Fed’s Hammack: Gradual Rate Hikes Best Path to 2% Inflation

Cointime update: Federal Reserve official Beth Hammack said monetary policy needs to shift to a restrictive stance, arguing that gradual rate increases would have a smaller impact on the economy and financial system and are the best path to bringing inflation back to 2%. She said U.S. inflation remains too high and is moving in the wrong direction, adding that Fed independence is essential to hitting the 2% target.