"Fed mouthpiece": Markets over-interpret Hammack's June rate cut comments

Planet Daily News: "Federal Reserve Mouthpiece" Nick Timiraos said that Federal Reserve Governor Harker's remarks on Thursday attracted widespread attention, as some market participants over-interpreted them as a signal that the Federal Reserve might be preparing to cut interest rates in June. Harker did not actually say that a rate cut in June was imminent. When discussing a June rate cut, he used two conditional words "if": "If we get clear and convincing data before June, if we know what action is correct at that point, then I believe the committee will take action." The danger of overly relying on such broad "if" assumptions is that they do not provide particularly clear answers. (Jinshi)