Cleveland Federal Reserve Governor Beth Hammark said that interest rates need to be kept at a restrictive level in order to reduce inflation to the central bank's target, and more frequent policy adjustments can reduce the risk of policy delays. Hamak said in a statement at an event in Zurich on Thursday: “I think monetary policy needs to shift to a restrictive stance to push inflation back to the 2% target in a timely manner.” At the same time, she also tends to “adopt more frequent and minor adjustments when conditions permit.” She added, “This strategy can also reduce the risk that policies will not keep up with the situation and inflation expectations will solidify.” Last week, inflation data was strong, and members of the Federal Reserve voted to keep the benchmark interest rate unchanged. Hamak was one of the two officials who voted against it. Following this meeting, several officials have expressed support for gradual tightening to mitigate the impact of the policy on financial markets and the economy. Futures market pricing shows that investors are betting that the Federal Reserve will probably raise interest rates again in December and March of the following year. The Cleveland Federal Reserve Governor also talked about the dominance of the US dollar. She called the US dollar “at the core of global foreign exchange transactions.” The US dollar's reserve currency status is based on America's perfect legal system, an adequate and liquid market, and the independence of the Federal Reserve.

Cleveland Federal Reserve Governor Beth Hammark said that interest rates need to be kept at a restrictive level in order to reduce inflation to the central bank's target, and more frequent policy adjustments can reduce the risk of policy delays. Hamak said in a statement at an event in Zurich on Thursday: “I think monetary policy needs to shift to a restrictive stance to push inflation back to the 2% target in a timely manner.” At the same time, she also tends to “adopt more frequent and minor adjustments when conditions permit.” She added, “This strategy can also reduce the risk that policies will not keep up with the situation and inflation expectations will solidify.” Last week, inflation data was strong, and members of the Federal Reserve voted to keep the benchmark interest rate unchanged. Hamak was one of the two officials who voted against it. Following this meeting, several officials have expressed support for gradual tightening to mitigate the impact of the policy on financial markets and the economy. Futures market pricing shows that investors are betting that the Federal Reserve will probably raise interest rates again in December and March of the following year. The Cleveland Federal Reserve Governor also talked about the dominance of the US dollar. She called the US dollar “at the core of global foreign exchange transactions.” The US dollar's reserve currency status is based on America's perfect legal system, an adequate and liquid market, and the independence of the Federal Reserve.