Comments from Beth Hammack from Cleveland:
- Says she has an ‘open mind’ about December meeting, more data is coming
- Market view of one cut between now and late January is reasonable
- Slowing pace of rate cuts allows Fed time to sound economy
- Data will drive what the Fed does with mon pol
- Fed has more work to do to cool inflation
- Economy is strong, labor market is healthy
- Labor market has become better balanced
Hammack doesn’t have a long track record as a hawk/dove but she’s certainly not teeing up a cut in December here, if anything the comments put more emphasis on CPI and retail sales before the FOMC.
The final scheduled Fed comments are at 1 pm ET from Daly.
This article was written by Adam Button at www.forexlive.com.
