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ATTENTION: Fed may cut rates in June if economic data is clear, says Hammack!📝📄📊📈😎🤔
The Federal Reserve could reduce interest rates in June, depending on the state of the U.S. economy, according to the president of the Cleveland Fed, Beth Hammack.
She added that Fed officials will react when the direction of the economy becomes clearer, although she emphasized that the central bank needs to be patient while authorities assess the consequences of President Donald Trump's broad tariff agenda.
It is also possible that Trump's recent threats to oust Fed Chairman Jerome Powell, which raised concerns about potential White House interference in the Fed's independence, could impact broader data, Hammack said. Trump has criticized Powell for not acting quickly enough to lower interest rates.
Earlier this week, Hammack said at a meeting of the Money Marketeers at New York University that "it is not a good time to be proactive" with monetary policy.
Hopes for a softening in Trump's aggressive tariff stance were bolstered after he suggested he was willing to reduce trade tensions with China. The U.S. imposed tariffs of at least 145% on the world's second-largest economy, prompting Beijing to implement counter-tariffs of 125% on American imports.#TRUMP #china #EUA