Fed's Hammack (voter) it is reasonable to keep rates steady for now, but if recent trends continue it could be appropriate to act against high inflation
Newsquawk Staff ·
- "While I never make too much of any one data point, today's jobs report reaffirms that the labor market appears to be roughly in balance. The unemployment rate remaining stable at 4.3% is right around my definition of full employment."
- "By contrast, inflation is telling a different story. It’s high, moving higher, and I believe persistently high inflation is the bigger concern."
- "For today, it’s reasonable to keep rates steady given the uncertainties around the economic outlook. But if recent trends continue, it may soon be appropriate to act."
Sources
- US and Israeli militaries have reportedly developed plans for renewed strikes on Iran after the US midterm elections, targeting energy infrastructure, nuclear facilities and missile and drone arsenals, NYT reports, citing sources
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