Cleveland Fed President Beth Hammack stated that investors trade more on what they think the Federal Reserve "will do" rather than what it "should do." She believes this view contradicts Kevin Warsh's stance advocating for less forward guidance to pursue purer market signals. Citing her three decades of market experience, Hammack said that markets seek any guidance from the Federal Reserve, and bankers and investment professionals' primary goal is to generate returns for themselves and their clients, leading them to react more to expectations of the Fed's actions.