RSS Fed's Hammack: We can be very patient in considering future rate cuts

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 RSS Fed's Hammack: We can be very patient in considering future rate cuts

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  • Monetary policy is only moderately restrictive
  • There has been amazing progress on inflation but it remains a problem
  • Restrictive policy is still needed for some period of time to control inflation
  • We also still have a rate-of-change problem that needs to be addressed
  • Thought that 75 bps rate cut for 2024 was appropriate back in September
  • Tariffs have the potential to further complicate inflation outlook
  • Full transcript (may be gated)

As a reminder, Hammack was the sole dissenter to the rate cut in December and she won't be holding a voting position on the FOMC this year. Her comments fit with her profile, so there isn't anything too surprising here.

This article was written by Justin Low at www.forexlive.com.
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