Federal Reserve official Hammack: With clear data, the Federal Reserve is likely to take action in June

Beth Hammack, president of the Cleveland Fed, ruled out a rate cut in May but said the central bank could act as early as June if there was clear evidence of economic direction. "If we have clear and compelling data by June and a clear idea of what course of action to take then I think the committee will act," Mr. Hammack said in an interview on Thursday.