Overview
- Hammack said policy looks barely restrictive and should lean against price pressures rather than move to additional easing.
- She opposed the late‑October quarter‑point cut that set the federal funds rate at 3.75%–4.00% and favors keeping settings mildly restrictive.
- Raising rates is not her base case, though she said a stickier inflation path or a stronger‑than‑assessed labor market could warrant hikes.
- She projected inflation near 3% by year‑end with pressures lingering into 2026, and expects only a modest uptick in unemployment.
- She described financial conditions as quite accommodative as investors weigh a possible December cut, with Chair Jerome Powell saying such a move is not assured and key data constrained by the shutdown.