Fed’s Hammack calls for more restrictive monetary policy amid inflation concerns

Federal Reserve official Beth Hammack has called for the U.S. monetary policy to adopt a more restrictive stance, suggesting a need for further rate hikes to address persistent inflation. This statement aligns with her previous dissent at the Federal Open Market Committee (FOMC) meeting, where she advocated for a 25-basis-point increase in the federal funds rate. Currently, the target range is maintained at 3.75% to 4.00%, but Hammack’s comments indicate support for additional tightening measures. The market’s response reflects this sentiment, with increased activity in prediction markets related to future rate hikes. Jerome Powell and other FOMC members’ upcoming statements will be key in determining the likelihood of further rate hikes.

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