Federal Reserve Hammack: It may be time for the Federal Reserve to slow the pace of interest rate cuts

The Federal Reserve Harmack said Friday that it may be time for the Fed to slow the pace of rate cuts. She believes the Fed's policy rate may not be much higher than neutral. Harmack noted that financial marekt expects the Fed to cut rates only once in the next two meetings and said that expectation is in line with her view. She said inflation, economic growth and the labor market are still stronger than the Fed expected in September. Harmack's remarks were one of the clearest hints in recent Fed officials' remarks, suggesting that the Fed's policy stance may no longer be very firm in cooling inflation and economic growth.