Fed's Hammack doesn't see case for rate hike

By Michael S. Derby

NEW YORK, Feb 11 (Reuters) - Federal Reserve Bank of Cleveland President Beth Hammack said Tuesday that she doubts the central bank will need to raise its interest rate target in the months ahead.

Rate hikes are “not in my base case. My base case is that we’re going to be on hold for quite some time” when it comes to interest rate policy changes, Hammack said at an event in Lexington, Kentucky. She also said it’s “unclear” how much of last year’s percentage point worth of rate cuts has flowed into economy so far.