Fed's Hammack is nervous about Fed policy given high inflation

Federal Reserve Bank of Cleveland President Beth Hammack said Thursday she’s concerned monetary policy may not be in the right place to deal with current inflation.

“I think we're pretty close to neutral right now, which makes me a little bit nervous, given that I see the bigger mess on the inflation side” of the Fed’s goals versus the job market, which is still largely holding together, the official said at a gathering of the Economic Club of New York.