Fed's Hammack signals "patient policy" as Fed navigates five-year inflation miss

Hammack cautions on energy prices and AI uncertainty High energy could bring inflation but could also weigh on growthRates are in a good place, baseline is staying on hold for whileRisks go in both ways for monetary policyThe job market is reasonably in balanceFed has been missing inflation target for five yearsConsumers have been facing extended period of… High energy could bring inflation but could also weigh on growth . Rates are in a good place, baseline is staying on hold for while . High energy could bring inflation but could also weigh on growth Rates are in a good place, baseline is staying on hold for while Risks go in both ways for monetary policy The job market is reasonably in balance Fed has been missing inflation target for five years Consumers have been facing extended period of elevated inflation Fed is still persistently missing on inflation target There are are risks Fed… For traders, releases like this can quickly shift rate expectations, currency direction, index futures and broad risk sentiment. Watch the next move in the dollar, front-end yields and index futures to see whether the market prices this release as a true surprise or only a passing headline.