03:02 PM EDT, 08/21/2025 (MT Newswires) -- Cleveland Fed President Beth Hammack (nonvoter) said that recent economic data do not call for a rate cut at the September Federal Open Market Committee meeting but she is maintaining an open mind and there is significant amount of data to come before the meeting.

Kansas City Fed President Jeffrey Schmid (voter) said that there is a significant amount of information to be released before the Sept. 16-17 FOMC meeting but that the economy remains strong and it is hard to see where the level of the federal funds rate is restricting economic activity.

Atlanta Fed President Raphael Bostic (nonvoter) said that inflation remains above the Fed's target rate of 2% while the unemployment is still low by historical standards. Bostic added that when the FOMC moves, he wants to be sure that it is one direction and not need to quickly raise rates again. Bostic said that the current level of the federal funds rate is "marginally restrictive" but not "super restrictive."

Recent comments of note:

(Aug. 20) The minutes of the July 29-30 FOMC meeting showed divisions forming between those that see inflation as the greater concern, those that see risks higher for employment growth and those that see a balance. While most agreed that monetary policy was well positioned to wait a little longer to gain more evidence regarding the impact of tariffs on inflation, some suggested that it was not necessary to gain full clarity before adjusting policy. The meeting ended two days before the downward adjustment to recent payrolls growth was released.

(Aug. 20) Fed Governor Christopher Waller (voter) said that stablecoins and artificial intelligence can be used with traditional payment systems without replacing those legacy systems, adding that the use of stablecoins can extend the reach of the US dollar.

(Aug. 19) Fed Vice Chair for Supervision Michelle Bowman (voter) told Bloomberg in an interview that she still believes that a rate reduction at the July 29-30 FOMC meeting was appropriate and stands by her dissent at that meeting.