Fed’s Hammack: Committed to achieving Fed's 2% inflation target

Federal Reserve President of the Bank of Cleveland, Elizabeth Hammack, highlighted the challenges faced in reading inflation due to a lack of data from the recent government shutdown. She expressed gratitude for the return of government data and reaffirmed the Fed's commitment to achieving the 2% inflation target. Hammack's comments suggest that the Fed may be under pressure to react to upcoming economic indicators such as CPI and PPI, which will play a crucial role in determining future monetary policy. The commentary underscores the potential for increased market volatility as traders anticipate how these indicators will influence the Fed's interest rate decisions amid ongoing inflationary pressures.