{
  "id": 4032788,
  "title": "Fed’s Hammack says low rate era may have been “abnormal”",
  "url": "https://urgent.news/2026/08/28/feds-hammack-says-low-rate-era-may-have-been-abnormal",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-28T21:00:00.000Z",
  "source": {
    "name": "Hellenic Shipping News",
    "slug": "hellenic-shipping-news",
    "url": "https://www.hellenicshippingnews.com/feds-hammack-says-low-rate-era-may-have-been-abnormal/"
  },
  "original_language": "en",
  "account": "Federal Reserve Bank of Cleveland President Beth Hammack asserted on Friday that the era of ultra-low interest rates from 2008 to 2020 might have been abnormal, rather than the standard. During a Bloomberg television interview, Hammack tackled questions about rising borrowing costs, stating that \"the period from 2008 to 2020 appears to have been the aberration, not the present situation.\"\n\nHammack pointed out that inflation is expected to conclude the year at approximately 3%, falling short of the Federal Reserve's target. In response, she urged the central bank to implement rate hikes, warning that postponement would lead to discomfort. She noted that at present, there seems to be little restriction in the economy.\n\nHammack emphasized that the Federal Reserve's reputation hinges on fulfilling its dual mandate. She highlighted the importance of communicating Fed concerns to the public, describing interest rates as the Fed's most readily comprehended instrument. Hammack clarified that while markets are aligned with the Fed, they are not its replacement. She expressed that she enters every Fed meeting with an open mind.",
  "summary": "Federal Reserve Bank of Cleveland President Beth Hammack said Friday that the period of ultra-low interest rates from 2008 to 2020 may have been abnormal rather than the current environment. Speaking on Bloomberg television, Hammack addressed concerns about borrowing costs. “I think when we go back and look at the history, I think what we’ll ...",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 8,
    "also_reported_by": [
      {
        "outlet": "FXStreet",
        "title": "Fed's Hammack: Time for Fed to act with rate hikes",
        "url": "https://urgent.news/2026/08/28/feds-hammack-time-for-fed-to-act-with-rate-hikes",
        "published": "2026-08-28T13:16:12.000Z"
      },
      {
        "outlet": "Winnipeg Free Press",
        "title": "Fed Chair Warsh signals rate hikes may be needed with inflation still elevated",
        "url": "https://urgent.news/2026/08/28/fed-chair-warsh-signals-rate-hikes-may-be-needed-with-inflation-still",
        "published": "2026-08-28T13:23:40.000Z"
      },
      {
        "outlet": "RTHK News - Finance",
        "title": "High inflation could lead to rate hikes: Fed chief",
        "url": "https://urgent.news/2026/08/28/high-inflation-could-lead-to-rate-hikes-fed-chief",
        "published": "2026-08-28T14:44:41.000Z"
      },
      {
        "outlet": "ABC News (US)",
        "title": "Fed Chair Warsh signals rate hikes may be needed with inflation still elevated",
        "url": "https://urgent.news/2026/08/28/fed-chair-warsh-signals-rate-hikes-may-be-needed-with-inflation-still-3980468",
        "published": "2026-08-28T14:54:26.000Z"
      },
      {
        "outlet": "Global News",
        "title": "Rate hikes may be coming amid inflation, new U.S. Fed chief signals",
        "url": "https://urgent.news/2026/08/28/rate-hikes-may-be-coming-amid-inflation-new-u-s-fed-chief-signals",
        "published": "2026-08-28T16:02:40.000Z"
      },
      {
        "outlet": "Al Jazeera",
        "title": "US Fed chair warns inflation progress insufficient, hints at rate hikes",
        "url": "https://urgent.news/2026/08/28/us-fed-chair-warns-inflation-progress-insufficient-hints-at-rate-hikes",
        "published": "2026-08-28T17:22:01.000Z"
      },
      {
        "outlet": "Hellenic Shipping News",
        "title": "Fed’s Hammack calls for rate hikes, second Fed official today",
        "url": "https://urgent.news/2026/08/28/feds-hammack-calls-for-rate-hikes-second-fed-official-today",
        "published": "2026-08-28T21:00:00.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}