Fed's Hammack notes 'disapointing' jobs report in Bloomberg TV interview

By Michael S. Derby

NEW YORK, Aug 1 (Reuters) - Federal Reserve Bank of Cleveland President Beth Hammack said a "disappointing" jobs report released Friday doesn't mean the Fed should have cut rates at its policy meeting this week.

“I feel confident with the decision that we made earlier this week," Hammack said in an interview on Bloomberg's television channel. While the July jobs data was weaker than expected, Hammack said, "we have to look at the whole picture of the data. When I step back and look at where we are, I see a labor market that is largely in balance. Again, today's report is just one report" and it will be important to monitor labor conditions at a time where inflation is still too high.