US EditionFed’s Hammack wants clear data before moving on rates, not much data by June, Reuters reports
- Federal Reserve officials, including Richmond President Tom Barkin and Chair Jerome Powell, highlighted economic uncertainty on May 9, 2025, in the U.S.
- This uncertainty stems from prior high inflation that prompted sharp rate hikes in 2022 and 2023 alongside President Trump's tariffs raising business costs and supply chain risks.
- Officials noted businesses have become cautious, cutting hiring and spending without widespread layoffs or recession patterns, while risks of both inflation and unemployment are increasing.
- As Barkin said to the Loudoun County Chamber, "It’s really hard to drive when it’s foggy," underscoring the need for clearer economic data before adjusting rates.
- The Fed will likely hold rates pending clearer signals, while some economists and Trump push for cuts to ease borrowing costs amid a slowing economy and tariff-driven inflation risks.
58 Articles
58 Articles
Fed’s Hammack wants clear data before moving on rates, not much data by June
The Federal Reserve needs more time to see how the economy responds to U.S. President Donald Trump's tariff and other policies before figuring out the right response, Cleveland Fed President Beth Hammack said on Friday, noting that much of the administration's sweeping agenda remains unclear.
In Monetary Policy and in Trade, It’s All ‘a Matter of Arithmetic’
Welcome to the Wall Street Week newsletter, bringing you stories of capitalism about things you need to know, but even more things you need to think about. I’m David Westin, and this week former Treasury Secretary Larry Summers brought us the story of the Federal Reserve acting in the face of uncertainty, and former Irish Prime Minister Leo Varadkar explained how his country attracted all those US pharmaceutical companies. If you’re not yet a su…
The Quad-City Times
Federal Reserve official not ready for rate cuts
WASHINGTON — A top Federal Reserve official said Friday that massive uncertainty created by President Donald Trump’s tariffs caused some businesses to cut back on hiring and spending, threatening to slow the economy, but he added that it’s not yet…
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