The market isn't fully priced for a cut until September, which is certainly 'some time' so I don't see this kind of signalling as material.
- Patient approach to rates will give the Fed some time to assess the economy
- Fed is well-positioned to respond to changes in the economy
- Risks to inflation are now skewed to the upside
- Monetary policy is now 'modestly restrictive'
- Best to take time to assess impact of any tariffs
- Economy is in a good place and the jobs market is solid
Hammack is a hawk.
