ICYMI - Hawkish Fed's Hammack says acting now on inflation is really critical
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Hammack's Dayton remarks ( headlines here earlier ) sharpen the hawkish end of the FOMC's internal split, arguing explicitly that current policy is not restrictive and that businesses remain eager to borrow and invest, a dynamic she sees as adding to price pressure rather than ea
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ICYMI - Cleveland Fed's Hammack says Fed should already be raising rates, more than one hike needed
More from Fed's Hammack: I need to keep an open mind about the next policy move
The desk interprets Cleveland Fed President Hammack's recent comments as indicative of a cautious approach to future monetary policy, reflecting rising concerns about entrenched inflation expectations among businesses. Per the full note [source], Hammack's emphasis on keeping an open mind suggests that the Fed may not be as aggressive in its tightening cycle as previously anticipated. This aligns with broader market sentiment that is increasingly wary of inflation's persistence, which could influence currency valuations. With the current consensus target for EUR/USD at 1.075, traders should remain vigilant as new data emerges.