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.

Source: Crypto Briefing