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Cleveland Fed President Hammack said inflation remains above target and the Fed may need multiple rate hikes to bring it down. She said a 25bp hike would not have a material economic impact but would not predict the number of moves or the terminal ra

2026-08-11

Cleveland Fed President Hammack said inflation remains above target and the Fed may need multiple rate hikes to bring it down. She said a 25bp hike would not have a material economic impact but would not predict the number of moves or the terminal rate. Hammack judged the current 3.50%-3.75% policy range is not clearly restrictive and said businesses have not cut growth investment, arguing prompt action is preferable because delays make returning to 2% harder. She added the labor market shows no obvious problems and July payrolls will not change her inflation focus. Hammack dissented at July’s FOMC, preferring a 25bp increase, and said markets can only assist—not substitute for—Fed policy action.

Other News
2026-08-11

Asian Stocks 1. The Shanghai Composite Index closed up 26.56 points, or 0.67%, at 3966.59 on Monday, August 10th. 2. The Shenzhen Component Index closed up 5.95 points, or 0.04%, at 14316.96 on Monday, August 10th. 3. The CSI 300 Index closed up 7

Asian Stocks 1. The Shanghai Composite Index closed up 26.56 points, or 0.67%, at 3966.59 on Monday, August 10th. 2. The Shenzhen Component Index closed up 5.95 points, or 0.04%, at 14316.96 on Monday, August 10th. 3. The CSI 300 Index closed up 7.59 points, or 0.16%, at 4702.02 on Monday, August 10th. 4. The ChiNext Index closed down 25.9 points, or 0.73%, at 3537.21 on Monday, August 10th. 5. The STAR Market 50 Index closed down 6.25 points, or 0.36%, at 1737.77 on Monday, August 10th. 6. The Hong Kong Hang Seng Index closed up 269.46 points, or 1.05%, at 25,937.49 on Monday, August 10. The Hong Kong Hang Seng Tech Index closed up 61.17 points, or 1.26%, at 4,919.46 on Monday, August 10. European Stocks 1. Germany's DAX 30 index closed down 26.68 points, or 0.10%, at 26,328.67 on Monday, August 10th; 2. The UK's FTSE 100 index closed down 39.27 points, or 0.36%, at 10,861.82 on Monday, August 10th; 3. France's CAC 40 index closed up 11.10 points, or 0.13%, at 8,726.03 on Monday, August 10th; 4. The Euro Stoxx 50 index closed up 10.39 points, or 0.16%, at 6,534.25 on Monday, August 10th; 5. Spain's IBEX 35 index closed down 31.41 points, or 0.16%, at 20,155.69 on Monday, August 10th; 6. The Italian FTSE MIB index closed down 83.19 points, or 0.15%, at 53,634.00 on Monday, August 10. US Stocks: 1. The Dow Jones Industrial Average closed down 61.30 points, or 0.11%, at 53,975.63 on Monday, August 10; 2. The S&P 500 index closed down 4.62 points, or 0.06%, at 7,753.02 on Monday, August 10; 3. The Nasdaq Composite Index closed down 85.26 points, or 0.32%, at 26,605.36 on Monday, August 10.
2026-08-11

Singapore's Ministry of Trade and Industry (MTI) raised its 2026 non-oil domestic exports growth forecast to 14.0%-16.0% from 3.0%-5.0%.

Singapore's Ministry of Trade and Industry (MTI) raised its 2026 non-oil domestic exports growth forecast to 14.0%-16.0% from 3.0%-5.0%.
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