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News 2026-10-12 17:46 UTC

Current US interest rates are modest by historic standards, Hammack says

By Howard Schneider CLEVELAND, Oct 12 (Reuters) — Rising interest rates have put US Treasury yields more in line with historical norms, Cleveland Fed President Beth Hammack said on Monday, noting that if home mortgage rates fell back to 3% it would likely mean something had gone wrong in the economy. “The rates I see o