Fed's Hammack (2026 voter): NFP report was disappointing but healthy labor market. ...Middle East

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Feds Hammack (2026 voter): NFP report was disappointing but healthy labor market.
NFP report was disappointingHealthy labor market still in balance, but should be watchedconfident in decision made earlier this week.Fed is still seen pressure on inflation side of mandate.Right now Fed missing much more on inflation side relative to jobs of mandate.The pain from inflation is biting.Businesses are dealing with high uncertainty.Expects to see inflation tick upBusinesses cannot absorb the cost increases anymore and will have to increase prices.Expects to see jobs market weakening into the end of the year.The economy is operating around eight long-term neutral rate. Does not have far to go to get 28 neutral rate.Calls policy a little restrictive.Reiterates that the jobs report is just one report.Before the next meeting will get another jobs report and two inflation reports. There is a lot more data to come.Will go into the next meeting with an open mind.Now is really tricky time for setting monetary policy.Has enormous respect for Fed chair Powell.Data will drive any thinking about monetary policy votes.

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This article was written by Greg Michalowski at investinglive.com.

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