PRIMER - Today’s Fedspeak includes: Barr, Williams, Hammack, Schmid, Goolsbee, Daly

14:00GMT/09:00EST: Fed’s Hammack (2026 voter) participates in a moderated discussion. Hammack last week said restrictive interest rates are needed to return inflation to 2%, favouring frequent, smaller adjustments to prevent inflation expectations becoming entrenched. She cited broad-based price pressures and signs of labour market strengthening. 15:00GMT/10:00EST: Fed’s Barr (voter) speaks at Yale University on AI and inequality. Speaking in late September, Barr said further rate hikes would likely be needed to bring inflation back to 2%. He warned that higher energy prices and AI-related investment have disrupted disinflation, while economic growth and labour market conditions remain solid. He expects AI investment to support activity, but cautioned that productivity gains are uncertain, and labour market disruptions remain possible. 16:30GMT/11:30EST: Fed’s Goolsbee (2027 voter) speaks at a Yahoo! Finance event. In remarks he gave after this week’s hot CPI data, Goolsbee called October’s inflation report “borderline disturbing”, citing persistent services inflation and tariff-related pressures. He warned of inflation expectations becoming entrenched, but avoided committing to a December hike. 18:10GMT/13:10EST: Fed’s Daly (2027 voter) will deliver remarks on policy in the age of AI. Speaking last week, Daly said she expects further rate hikes, but favours gradual tightening, with timing and magnitude dependent on incoming data. She welcomed last week’s stronger than expected employment growth, but warned that persistent inflation is eroding real wages and household purchasing power. Daly supported September’s rate increase and October’s pause, citing economic uncertainty. 18:30GMT/13:30EST: Fed’s Schmid (2028 voter) will speak on monetary policy and the economic outlook. Speaking earlier in the week, Schmid said monetary policy remains too accommodative, with persistent inflation, resilient employment and consumer spending supporting the case for higher rates. 23:30GMT/18:30EST: Fed’s Williams (voter) will participate in a panel discussion. Speaking before the October FOMC confab, where rates were left unchanged, Williams said one further hike may be appropriate in late 2026, but saw no urgency following September’s rate increase. He cited AI investment and Middle East energy shocks as inflation drivers, while noting no evidence of broader, persistent price pressures.