Fed's Hammack Backs Rate Hike to Rein in Inflation

Cleveland Fed President Beth Hammack backed a rate hike to rein in inflation, calling interest rates "the clearest, most transparent, easiest-to-communicate tool that we have." She noted a long history showing the impact of rate moves on the economy. Hammack spoke with Bloomberg's Tom Keene, Lisa Abramowicz, and Michael McKee in Jackson Hole, Wyoming.