Fedspeak Monitor

Waller continued to advocate for a July cut this week, arguing that policy is "just too tight."

A light week of Fedspeak. We heard from Powell this week, who dodged a question about a July cut.

An eventful week of Fedspeak changes many of our views of where Committee members are.

In the days after the FOMC press conference, we have a couple of speakers talking about the possibility that they may need to move to protect the labor market.

A light week of Fedspeak, but a few notable pieces from some of the Committee.

There's still a lot of speculation around the effects of tariffs in this week's Fedspeak, but they're still waiting for the data. The uncertainty around other policies is also encouraging them to stay noncommital on rate movements.

This week, FOMC members continue to project confidence in the ability of the economy to withstand the risk of a recession from tariff policy, at least long enough to allow the Fed to figure out what to do.

The post-FOMC Fedspeak from the rest of the Committee was as noncommittal as the press conference.

The Fedspeak this week is still: wait and see, and we care most about keeping inflation under control.