Fed's Hammack (2026 voter) says the Fed in good position with policy ‘to see how things play out’

Policy:

• Current Fed target rate ‘in vicinity’ of neutral (Powell has previously said in a plausible range of neutral, albeit towards the higher end).
• Fed rate policy could be on hold 'for quite some time’.
• Sees growth boosted by Fed policy, financial conditions and fiscal support.
• Both sides of Fed’s mandate have been under pressure.

Inflation:

• Inflation is ‘still too high’ and tariff issues still in play.
• Expects inflation to ease as year moves forward, but that’s just a forecast.
• There’s a risk inflation could stick at 3% this year and needs to come down.
• 'Cautiously optimistic’ about economic outlook.

Labour Market:

• Job market stabilised into low hire, low fire landscape.