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Fed's Hammack: Jobs report 'disappointing' but doesn't mean rate cut this week
20hours ago

Odaily Planet Daily News: Hammack, a 2026 FOMC voting member and president of the Cleveland Fed, was interviewed by Bloomberg, pointing out that the non-farm payroll report released on Friday was "disappointing," but it did not mean that the Fed should cut interest rates at this week's policy meeting. He said, "I am confident in the decision we made earlier this week. Although the July employment data was weaker than expected, we must look at the data comprehensively. When I look back at the current situation, I find that the labor market remains basically balanced. Once again, I emphasize that today's report is just a report. When inflation remains too high, it is crucial to monitor the labor force situation." (Jinshi)