Fed's Hammack: I prefer to wait than move in the wrong direction with rates
Source Fxstreet
Federal Reserve (Fed) Bank of Cleveland President Beth Hammack joined the ever-growing chorus of Fed policymakers taking a hard cautious stance to interest rate forecasts, cautioning that uncertainty wrapped up in US trade policy will continue to make it difficult for the Fed to engage in market-smoothing operations.
Key highlights
The desk stands ready to engage in money markets if needed.
We may move much more quickly when the Fed does adjust rates.
Monetary policy is modestly restrictive right now.
It is unclear that removing Statutory Liquidity Ratio (SLR) constraint adds to risk capacity.
I think we've been seeing markets work themselves out.
I prefer to wait than move in the wrong direction with rates.
Markets are strained, but functioning.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
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