Why the bot decided this
Fed's Hammack said broad-based inflation and ongoing growth require restrictive monetary policy, with trend inflation still in the mid-to-high 2% range and a return to the 2% target expected to take time. She favors smaller but relatively quick rate adjustments. The remarks create a clear macro catalyst for SPY.
The article
Fed's Hammack Says Broad-Based Inflation, Ongoing Growth Need Restrictive Monetary Policy; Trend Inflation Currently In The Mid-To-High 2% Range, Expect It Will Take Some Time To Return To 2% Target Even With Appropriate Monetary Policy; Would Prefer Fed Make Smaller Adjustments To Policy Rate But Do So 'relatively Quickly'; Energy Is Not Only Factor, With Strong Demand Also Contributing To Price Pressures; Stable Labor Market Leaves Room To Address Inflation https://www.clevelandfed.org/collections/speeches/2026/sp-20261012-trimming-the-sails-communicating-my-reaction-function