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Cleveland Fed president says she 'would not see a case' for September rate cut given latest economic data
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 the information I have, if the meeting was tomorrow, I would not see a case for reducing interest rates,” Hammack told Yahoo Finance at the Jackson Hole Economic Symposium. Hammack, who said the Fed needs to "stay laser focused" on bringing inflation down ... (full story)
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Kansas City Federal Reserve President Jeffrey Schmid expressed doubt about lowering interest rates in September, saying policymakers still have more work to do on inflation. Speaking to CNBC from the Fed’s annual symposium in Jackson Hole, Wyo., Schmid pushed back on market pricing that points strongly to the Federal Open Market Committee lowering its key ...
Three Federal Reserve officials appeared lukewarm on Thursday to the idea of an interest rate cut next month, as investors geared up for U.S. central bank chief Jerome Powell’s speech to the annual Jackson Hole conference in Wyoming. “I walk into every meeting with an open mind,” Cleveland Fed President Beth Hammack said in an interview with Yahoo Finance ...
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…
