Fed's Hammack sees high bar for Fed stability intervention

By Michael S. Derby

NEW YORK, April 23 (Reuters) - Federal Reserve Bank of Cleveland President Beth Hammack said on Wednesday the threshold for central bank intervention to aid markets is very high and nothing that's happened in markets over recent days needed Fed help.

"There has to be an incredibly high bar" for the Fed to step in to take action to shore up troubled markets, Hammack said after a speech in New York.

While markets have undergone a lot of volatility lately, nothing has happened thus far that would suggest the Fed needs to act to ensure ongoing financial market stability, she said.