Fed’s Hammack (hawk) is back on the newswire after speaking earlier today and says:
- The US economy has been remarkably resilient.
- Hears from contacts inflation too high in moving in wrong direction.
- Employment side of Fed mandate challenged that amid job market softening.
- Current unemployment around maximum level.
- Some of inflation may be tariff driven by service inflation is a real concern.
- This is a difficult time for monetary policy.
- That policy needs to remain somewhat restrictive to push inflation pressures down.
- Expects tariffs to drive up inflation into early next year.
- Right now job market looks balance but there are reasons for concern.
This article was written by Greg Michalowski at investinglive.com.