Fed's Hammack (hawkish dissenter) says gradual rate hikes less disruptive to economy and financial system and monetary policy needs to move to restrictive stance
ORIGINAL · NewsquawkFed's Hammack (hawkish dissenter) says gradual rate hikes less disruptive to economy and financial system and monetary policy needs to move to restrictive stanceRead originalHide original
Gradual rate-hike path is the best way forward for monetary policy. Fed’s independence critical to getting inflation to 2%. Gradual rate hikes best way to make sure the Fed gets inflation back to 2%. Inflation has been too high and moving in the wrong direction. Fed has earned credibility through its actions. Dollar remains the world’s top reserve currency; its status owes to US institutions and the legal system. Hard to see the dollar losing reserve status.
Hammack advocated gradual rate hikes and a restrictive policy stance to address high, worsening inflation, while emphasizing Fed independence, credibility and the dollar’s reserve status.
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Gradual rate-hike path is the best way forward for monetary policy. Fed’s independence critical to getting inflation to 2%. Gradual rate hikes best way to make sure the Fed gets inflation back to 2%. Inflation has been too high and moving in the wrong direction. Fed has earned credibility through its actions. Dollar remains the world’s top reserve currency; its status owes to US institutions and the legal system. Hard to see the dollar losing reserve status.
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