Fed's Hammack (2026 Voter) says the NFP report was disappointing; healthy labour market still in balance; "confident in decision made earlier this week"
Inflation
- Seeing pressure on inflation side of the mandate
- "Pain of inflation is biting"
- Inflation still influencing economic decisions
- Expects inflation to tick up
- Expects to see tariff passthrough to prices
Jobs
- Fed missing much more on inflation side relative to jobs mandate
- Expects job market to weaken into end of the year
Other
- Businesses dealing with high uncertainty
- Does not think neutral rate is far
- Going into next meeting with open mind
- Tricky time for setting policy
- Has respect for Fed Chair Powell, when asked on US President Trump's criticism
- "Data will drive any thinking on policy votes"
01 Aug 2025 - 14:15- Fixed IncomeImportant- Source: Bloomberg TV
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