Beth Hammack of the Federal Reserve Bank of Cleveland depicted a fundamentally robust economy, despite inflation persistently surpassing the Fed’s target.
Key Quotes
- I see an economy that’s really healthy.
- Inflation has made progress toward the Fed’s target but is still too high.
- Goes into every Fed meeting with an open mind.
- We are not there yet on inflation; it is important to stay restrictive on monetary policy.
- Fed officials are having a great debate over the economy.
- Many business plans are on pause amid uncertainty.
- Uncertainty has been weighing on investment.
- We don’t know if the economy will boom later this year.
- We don’t know what the tariff impact will be.
- We are pretty close to where the neutral rate is.
- Doesn’t see an imminent need to cut rates.
- If fed sees the economy weaken, of course fed will respond.
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