Fed's Hammack says steady rate policy is 'active choice'

By Michael S. Derby

April 16 (Reuters) - Federal Reserve Bank of Cleveland President Beth Hammack said Wednesday steady monetary policy right now does not represent a passive state of affairs for the central bank in an uncertain environment.

Not changing policy is an “active choice” in the current environment as the Fed takes in more information, Hammack said after a speech in Cleveland. “It can be frustrating to see sharp movements in financial markets, to see these strong headlines and different policies are coming out, and the right thing for the Fed to do at this point might be to stay on hold and to leave rates where they are,” she said.