US EditionFed’s Hammack wants clear data before moving on rates, not much data by June, Reuters reports
- Federal Reserve officials including Tom Barkin and Jerome Powell expressed uncertainty about cutting rates due to unclear economic data as of May 2025 in the United States.
- The core issue stems from persistent inflation caused partly by tariffs imposed by President Donald Trump, which complicate the Fed's decision on whether to adjust interest rates.
- Officials warned that tariffs disrupt global supply chains, raise costs for companies, and increase inflation risks while businesses respond cautiously by reducing hiring and spending.
- Barkin said, "it's really hard to drive when it's foggy," emphasizing the difficulty in assessing inflation and unemployment risks simultaneously, while economist Gregory Daco urged rate cuts given economic slowdown.
- The Fed plans to wait for clearer economic signals before changing rates, as uncertainty and cautious business behavior threaten to slow growth and could push the economy toward recession.
76 Articles
76 Articles
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A top Fed official still sees a big economic hit coming from tariffs despite US-China talks
Drew Angerer/Getty ImagesFed Governor Adriana Kugler warned of tariff consequences even as US-China tensions ebbed.Investors should still brace for higher inflation and slower growth, she said.Markets are celebrating the rollback of US tariffs on China, but at least one Federal Reserve official still sees economic pain coming from the trade war.In a speech on Monday, Fed Gov. Adriana Kugler said that the country won't escape a negative supply sh…
Fed’s Hammack wants clear data before moving on rates, not much data by June
The Federal Reserve needs more time to see how the economy responds to U.S. President Donald Trump's tariff and other policies before figuring out the right response, Cleveland Fed President Beth Hammack said on Friday, noting that much of the administration's sweeping agenda remains unclear.
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