Fed's Hammack: Inflation remains a major concern, and the Fed is not expected to cut interest rates in September

According to Jinshi Data, Federal Reserve official Hammack stated that inflation is currently too high and trending upward, necessitating a high degree of focus. He believes that reaching a neutral policy level is still some distance away, but that stimulus policies are unnecessary. Furthermore, Hammack noted that the labor market is likely to remain balanced despite the economic slowdown, with the unemployment rate being a key indicator. Regarding the impact of tariffs, he stated that it is unclear whether it is merely a one-off effect. Based on the available data, he does not expect the Fed to cut interest rates in September.