Cleveland Fed President Beth Hammack favors taking a slow pace in adjusting the Federal Reserve's policy rate, she said Friday at the City Club of Cleveland, according to prepared text. The strength of the economy leads her to support a slower pace of rate cuts than she had expected in September when Fed officials last submitted their economic

In her first major policy speech, Federal Reserve Bank of Cleveland President Beth Hammack said on Friday she’s keeping her options open when it comes to the central bank’s next policy meeting, as broader economic conditions continue to argue for a slowdown in the pace of rate cuts.

Federal Reserve Bank of Cleveland President Beth Hammack said policymakers are “at or near” the point where the central bank should slow the pace of interest-rate reductions, citing a strong economy and still-elevated inflation.

The Federal Open Market Committee is most likely to cut interest rates again to 4.25% to 4.5% on December 18 according to fixed income markets.

The US Federal Reserve appears likely to lower benchmark interest rates again later this month, after cutting interest rates at its previous two meetings. CLick to read.

St. Louis Federal Reserve President Alberto Musalem said on Wednesday he expects the U.S. central bank will be able to continue to cut interest rates but warned the pace of future actions has grown less clear.

A falling-interest-rate environment is generally a positive catalyst for the stock market. Having said that, there are some areas of the stock market that tend to benefit from falling rates more than others.