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[Federal Reserve Hammaker: Gradual interest rate hikes are the best path to push inflation back to 2%] On November 5, Federal Reserve official Hammack said that monetary policy needs to shift to a restrictive stance. Gradual interest rate increases will have less impact on the economy and financial system, and it is also the best path to push inflation back to 2%. She pointed out that U.S. inflation remains too high and is moving in the wrong direction. Hammack also said that the independence of the Federal Reserve is crucial to achieving the 2% inflation target. The U.S. dollar remains the world's major reserve currency, and its status benefits from the U.S. system and legal system.
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