Fed's Hammack Says Rates Could Be on Hold for 'Some Time'

Cleveland Fed president urges patience as officials assess economic data

Published on Feb. 10, 2026

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Federal Reserve Bank of Cleveland President Beth Hammack said interest rates could remain on hold for an extended period as officials evaluate incoming economic data. Hammack stated that she would prefer to 'err on the side of patience' rather than try to 'fine tune the funds rate' as the central bank monitors the impact of recent rate reductions.

Why it matters

The Federal Reserve's interest rate decisions have significant implications for the broader economy, impacting consumer and business borrowing costs, inflation, and overall economic growth. Hammack's comments suggest the Fed may be inclined to pause rate hikes for the time being to allow more time to assess the economic landscape.

The details

In a speech in Columbus, Ohio, Hammack said that 'based on my forecast, we could be on hold for quite some time' rather than trying to make frequent adjustments to the federal funds rate. She emphasized the need to 'assess the impact of recent rate reductions and monitor how the economy performs' before considering further policy changes.

  • Hammack made these comments on Tuesday, February 10, 2026.

The players

Beth Hammack

The president of the Federal Reserve Bank of Cleveland.

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What they’re saying

“Rather than trying to fine tune the funds rate, I'd prefer to err on the side of patience as we assess the impact of recent rate reductions and monitor how the economy performs.”

— Beth Hammack, President, Federal Reserve Bank of Cleveland (Bloomberg Law)

What’s next

The Federal Open Market Committee, the Fed's policymaking body, will next meet on March 17-18, 2026, where they will have the opportunity to evaluate Hammack's recommendations and determine the future path of interest rates.

The takeaway

Hammack's comments suggest the Fed may be inclined to pause interest rate hikes in the near term, prioritizing patience and data evaluation over frequent policy adjustments. This approach could provide more stability for consumers and businesses as the central bank navigates the current economic landscape.