Fed's Hammack opposed Fed rate cut on ongoing inflation concerns

Oct 31 (Reuters) - Federal Reserve Bank of Cleveland President Beth Hammack said Friday she opposed the central bank cutting interest rates this week.

“I would have preferred to have held rates steady” at the Federal Open Market Committee meeting, Hammack said at a Dallas Fed event. “We have inflation that is too high.”

Speaking on the same panel, Atlanta Fed President Raphael Bostic said he came around to supporting a rate cut, but added “we can't really signal or forget that inflation is a significant problem and we have to get that back down to our 2% target.”