Fed's Hammack: Gradual rate hikes are less disruptive, favors frequent, small rate adjustments.

November 5: 2026 FOMC voting member Hammack will speak on stablecoins and safe-haven currency exchange rates, stating: Monetary policy needs to shift to a restrictive stance. Inflation has been too high and is moving in the wrong direction. Gradual rate hikes cause less disruption to the economy and financial system. The dollar remains the world's number one reserve currency, and it is hard to imagine the dollar losing its reserve currency status. The independence of the US central bank is crucial to bringing inflation down to 2%, and there is a preference for frequent, small rate adjustments.