Fed's Hammack (2026 Voter, Hawk) says persistently high inflation remains her top concern

Inflation

• Hammack says inflation is too high
• Hammack says core PCE nowcast is 3.3% after incorporating this week’s data
• Hammack notes inflation is broad based, reflecting energy costs, supply-chain disruptions, insurance and AI data-centre build-up pressures

Forward guidance

• Hammack says policy view considers data, business and community conversations, and where the economy is heading over the next six or 12 months

Labour market

• Hammack says labour market is right around her level of maximum employment

GDP growth

• Hammack says growth numbers are good and consumer spending is stable

Balance of risks

• Hammack judges persistently high inflation is the bigger concern