Fed's Hammack calls for patience in assessing what impacts tariffs will have on the economy
1. Cleveland Fed President emphasizes patience in assessing tariffs' impact on inflation. 2. Hammack cites uncertainty affecting interest rate policy and economic growth. 3. Markets expect Fed to maintain interest rates, with potential cuts later this year. 4. Concerns over tariffs could hinder business investment and hiring plans. 5. Strong economic data contrasts with rising market volatility and soft survey results.