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Fed's Hammack says it is too early to gauge economic impact of Iran war, NYT reports

BY Reuters | ECONOMIC | 05:17 AM EST

March 4 (Reuters) - Federal Reserve Bank of Cleveland President Beth Hammack said it was too early to gauge the economic impact of the Iran war and backed holding interest rates steady for "quite some time", in an interview with the New York Times published on Wednesday.

"It's important to make sure that we're maintaining policy at a level where we can drive inflation back down to target while balancing any potential softness in the labor market," she said.

(Reporting by Chandni Shah in Bengaluru; Editing by Andrew Heavens)

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In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.

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