[Federal Reserve's Hammack: No Consideration for Lowering Rates to Accommodative Range]
Federal Reserve's Hammack stated that he does not wish to lower interest rates to an accommodative range, as the current economic conditions are strong and healthy, and inflation expectation data is being closely monitored. He believes the Federal Reserve has performed well in managing the federal funds rate, despite it being a small market. He also mentioned that debates within the Federal Reserve regarding interest rate targets are positive, moderate fluctuations in the money market are acceptable, and the ample reserves framework is the correct operational approach. He expressed satisfaction with the use of the standing repo facility but was surprised that it has not been more widely utilized.