Hammack: With Current Data, a September Rate Cut Seems Unlikely

Divisions Grow Inside Fed Ahead Of Decision On September Rate Cut – WSJ Cleveland Fed President Beth Hammack: "I see an inflation picture that is too high and rising and moving in the wrong direction." The outlook is "radically different" from when the Fed cut last year. On current data, "I would not be supportive ... of reducing interest rates." Boston Fed President Susan Collins opens the door to a September cut: The Fed's rate stance was appropriate in July but the subsequent payroll figures were softer than expected. If data by the time of next month's meeting suggests more "risks of worsening labor market… BOSTON FED PRESIDENT SUSAN COLLINS SIGNALED OPENNESS TO A RATE CUT AS SOON AS NEXT MONTH- WSJ COLLINS FLAGGED HOW HIGHER TARIFFS MIGHT SQUEEZE CONSUMERS’ PURCHASING POWER, WHICH COULD WEAKEN SPENDING. - WSJ FED'S COLLINS SAID SHE EXPECTED INFLATION TO CONTINUE RISING THROUGH…

Cleveland Fed president Beth Hammack said Thursday that the case for cutting interest rates in September would be a hard one to make given recent economic data. "There's a lot of data we're going to get between now and September and I walk into every meeting with an open mind about what the right thing to do is, but with the data I have right now and with ...

*FED'S HAMMACK: BOTH SIDES OF DUAL MANDATE ARE UNDER PRESSURE Fed's Hammack: It is important we maintain modestly restrictive policy. ?*HAMMACK: IT'S JUST NOW THAT WE'RE STARTING TO SEE TARIFF IMPACT *HAMMACK: NOT GOING TO SEE FULL TARIFF EFFECT UNTIL NEXT YEAR *HAMMACK: ECONOMIC THEORY ON ONE-TIME TARIFF IMPACT MAY NOT HOLD *HAMMACK: BIGGEST CONCERN IS INFLATION TOO HIGH, TRENDING UP