Fed/Hammack: Inflation is very high, a tighter stance is needed

Cleveland Fed President Beth Hammack said inflation remains too high and the disinflation trend has reversed, calling for a more restrictive policy stance. She argued that gradual interest-rate increases are the most appropriate path to return price stability to the Fed's 2% target. The remarks signal that at least one policymaker sees the next move as a hike rather than a cut, a shift that matters for rate-sensitive assets and the dollar. Investors will watch upcoming inflation prints and other Fed speakers for confirmation that the committee is converging on Hammack's view.