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Cleveland Fed President Beth Hammack said persistent above-target inflation risks conditioning the public to accept elevated prices. She said policy needs to remain restrictive to help bring inflation back to target.
EXECUTIVE SUMMARY * TRUMP HAILS IRAN TALKS EVEN AS TEHRAN SETS 'FIRM POSITIONS': #0244e48b-2945-4b3b-8085-728a924ddf38 * ZELENSKY ASKS TRUMP FOR WINTER ARMS PACKAGE, EXPECTS ENERGY-CEASEFIRE PUSH: WSJ: #cddd3044-ae77-4efa-9233-fb28b1e6f368 * NAGEL SAYS 'VIGILANT' ECB MAY NEED MILDLY RESTRICTIVE RATES: #13be4029-5b8c-40
EXECUTIVE SUMMARY * TRUMP HAILS 'VERY GOOD' IRAN TALKS FOLLOWING ANNIHILATION THREAT - BBG: #cdbad0a1-5c8d-4cdb-9819-370162b99299 * ZELENSKY ASKS TRUMP FOR WINTER ARMS PACKAGE, EXPECTS ENERGY-CEASEFIRE PUSH - WSJ: #a4c79a68-e487-466b-a806-4885fa3200e0 * LASTING SHOCKS, FIRMING DEMAND REQUIRE FED ACTION - BARKIN - MNI
Fed’s Hammack says policy is not restrictive and inflation remains too high. Local contacts view it as time for the Fed to hike to control inflation.
White House said there are no new talks with Iran right now, while it weighs a new round of tariffs on chips amid sputtering Iran talks.
Federal Reserve official Hammack says policy is not restrictive and says businesses are excited to grow and borrow.
Treasury yields are jumpy heading into the second half of 2026, and Wall Street has good reason to be nervous. Yields capped a third consecutive quarterly rise on Tuesday, the last trading day of a first half that — despite severe geopolitical tensions and an energy crisis — ended on a surprisingly strong note. The S&P