Fed's Hammack (Voter, Hawkish Dissenter) reiterates the need to raise rates right now; labour market is stable, inflation data amid recent shocks has risen

Too much growth could put additional pressure on prices. Policy is not estrictive and firms are optimistic about growth and credit. Important Fed is held accountable to one inflation number. Must look at a range of data to "do that job on inflation". Raising intrest rates can be painful, but must not let growth and investment be so fast the economy overheats. Need some restraint from monetary policy to bring down inflation. Firms have adapted to tariff and oil shocks, there is resilience and investment. Payrolls data is noisy. There are real pressures from inflation on Americans. If it takes another three to four years to get to 2% inflation, "can the public wait?" We need to bring inflation down to 2% faster.