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Fed's Hammack Urges Steady Rates Amid Limited Job Growth

3/5/2026

36 6 Full Breakdown

Summary

Story summary

Hammack, a Federal Reserve policymaker, says rates should stay steady until inflation nears 2%.
Job growth remains limited in 2025, with January unemployment at 4.3%.
Health care and social assistance lead hiring, while manufacturing jobs decline.
Nippon Steel plans a $14 billion investment in U.S. Steel, including $11 billion for infrastructure by 2028, impacting Pennsylvania jobs.

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Story summary

Hammack, a Federal Reserve policymaker, says rates should stay steady until inflation nears 2%.
Job growth remains limited in 2025, with January unemployment at 4.3%.
Health care and social assistance lead hiring, while manufacturing jobs decline.
Nippon Steel plans a $14 billion investment in U.S. Steel, including $11 billion for infrastructure by 2028, impacting Pennsylvania jobs.