Fed's Hammack: Rates Should Be Higher, Economy Needs More Cooling
- —PCE inflation at 3.4% in August, core at 3%, above the 2% goal
- —Unemployment at 4.2%, little changed since late last year
- —Hammack favors frequent small moves over abrupt pivots
- —AI infrastructure buildout and tariffs add to price pressures
Why it matters: A hawkish Fed signal adds pressure on risk assets, including crypto, ahead of the Oct. 28 meeting.
Source: Bithub