Fed's Hammack (2026 voter) says Fed jobs number was a disappointment; economy overall brightening; labour market stabilising
Importance
Level 1
- Right around neutral.
- Not overly restrictive, based on banks and firms I'm talking to.
- Should stay at least around neutral to bring inflation down.
- Could be on hold for quite some time.
- Shrinking balance sheet is a discussion they should have.
- Question on balance sheet is whether ample or scarce reserves regime.
- Reasonable question to ask if better to be in Treasuries or in repos.
- Economy is in a reasonably good place.
- Too soon to say the impact of the oil price rise.
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