Fed's Hammack: Need to shift to restrictive monetary policy to curb inflation

November 12: Federal Reserve's Hammack stated that the Fed needs to shift to a restrictive monetary policy to reduce inflation. There is real demand pressure currently pushing up prices, and the latest inflation data also shows that the inflation trend is moving in the wrong direction.

Hammack said that the Fed has been insufficient in fulfilling its inflation stability mandate for years, but has performed well in its employment mandate.