Fed’s Beth Hammack (2026 voter) on FOXBusiness:
- I see an economy that’s really healthy
- inflation has made progress to Feds target but is still too high
- we are not there yet on inflation, important to stay restrictive on monetary policy.
- Fed officials are having a great debate over the economy.
- Many business plans on pause amid uncertainty
- Uncertainty has been weighing on investment.
- We don’t know if economy will boom later this year
- we are pretty close to where the neutral rate is.
- Doesn’t see imminent need to cut rates.
- If Fed sees economy weakening of course Fed will respond.
The markets are discounting a rate cut in the October meeting and another one before the end of the year.
US stocks in premarket trading remain modestly lower. The Dow industrial average is down -114 points. The S&P index is lower by -14 points. The tech-heavy NASDAQ index is down -46.60 points as implied by the futures.
This article was written by Greg Michalowski at www.forexlive.com.