Comments from Beth Hammack of Cleveland:
- Saying she has an 'open mind' about the December meeting, more data is coming
- A market outlook of one cut between now and the end of January is reasonable
- A slower pace of rate cuts allows the Fed time to prop up the economy
- Data will guide what the Fed does with mon pol
- The Fed has more work to do to cool inflation
- The economy is strong, the job market is healthy
- The job market has become more balanced
Hammack doesn't have a long history as a hawk/dove but she certainly isn't picking a December cut here, if anything the comments put more weight on CPI and retail sales ahead of the FOMC.
The Fed's closing remarks are scheduled for 1pm ET from Daly.
This article was written by Adam Button at www.forexlive.com.
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