Cleveland that Pres. Hammack: I heard from Powell that the Chair is openminded ...Middle East

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Cleveland that Pres. Hammack: I heard from Powell that the Chair is openminded
Inflation is too highWe may see unemployment continuing to riseFor me inflation is too high and puts a real picture on householdsWe have to keep a mostly restrictive policy to keep inflation downWe have a lot more data before we get to the September meeting. I keep an open mindRight now, I'm squarely focused on inflation. We are missing quite significantly on inflation.I would like to be at a place where I see inflation coming back toward target.I think we are at a very small distance from where we are now to get to a neutral level.I think we are are only very modestly restrictive.If the unemployment rate does move higher I could be swayed.Right now we need to judge the magnitude and the persistence of the inflation and unemployment. If we see a significant weakening in the unemployment rate, it could indicate that we move to an easier policy.

Hammock is painting a less dovish view then the markets view of Powell's comments.

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

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