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New Cleveland Fed president is optimistic about the region despite financial challenges


Published on 2024-12-06 09:01:13 - Crain's Cleveland Business
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  • Hammack takes on this new role following a long tenure with Goldman Sachs Group Inc., where she began working in 1993 as capital markets analyst. Her last role there was cohead of the firm's global financing group.

Beth Hammack, the newly appointed president of the Federal Reserve Bank of Cleveland, discussed her goals for monetary policy and her acclimation to Northeast Ohio in an interview with Crain's Cleveland Business. Hammack emphasized the importance of maintaining price stability and fostering maximum employment, aligning with the Federal Reserve's dual mandate. She highlighted her commitment to understanding the regional economy, engaging with local businesses, and community leaders to better inform her policy decisions. Hammack also expressed her enthusiasm for the Cleveland community, noting its strong sense of identity and the economic diversity which she believes will provide valuable insights into national economic trends. Additionally, she touched on the challenges of inflation and the need for a balanced approach in monetary policy to manage economic growth without overheating the economy.

Read the Full Crain's Cleveland Business Article at:
[ https://www.crainscleveland.com/banking-finance/beth-hammack-discusses-goals-monetary-policy-and-acclimating-northeast-ohio ]