hammack

 FED'S HAMMACK SAY'S "WE COULD BE ON HOLD FOR QUITE SOME TIME"
In a NYT interview just out, Cleveland Fed President Hammack laid out the current Fed stance:
"We're in a good spot from a policy perspective. I think we could be on hold for quite some time."

Sees policy settings at "neutral" – neither restrictive nor accommodative.
Important to maintain policy at level that drives inflation back to target while balancing labor market softness.
Too early to tell on AI's economic impact.

Hammack is pushing back against market expectations for imminent cuts.
"On hold for quite some time" = higher for longer.
This contrasts with Waller's dovish dissent last month.
$COOKIE
Market :
Dollar firming. Rate cut expectations cooling.
Risk assets sensitive to this shift.
Friday's jobs report now even more critical.
The Fed is divided. Hammack's camp says hold. Waller's camp says cut.$KITE
March meeting just got interesting.
$AIXBT
#Fed #Hammack