Comments from Beth Hammack from Cleveland:
Says she has an ‘open mind’ about December meeting, more data is comingMarket view of one cut between now and late January is reasonableSlowing pace of rate cuts allows Fed time to sound economyData will drive what the Fed does with mon polFed has more work to do to cool inflationEconomy is strong, labor market is healthyLabor 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.
