Federal Reserve member's warning about inflation expectations; Hamek emphasized the necessity of further monetary contraction

Source link: Federal Reserve member's warning about inflation expectations; Hemek stressed the necessity of further monetary contraction. Hemek, a member of the Federal Reserve, announced that there are early warning signs of the possibility of a problem in inflationary expectations and that the economy needs to be restrained and calmed down to some extent. He emphasized that more monetary tightening is needed and if the monetary policy is not implemented, the market conditions will change. This Federal Reserve official, stating that the issue [...]

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Hamek, a member of the Federal Reserve, announced that there are early warning signs of a possible problem in inflation expectations and that the economy needs to be restrained and calmed down to some extent. He emphasized that more monetary tightening is needed and if the monetary policy is not implemented, the market conditions will change.

Stating that the current issue is the pace of monetary policy tightening, the Federal Reserve official said his forecast for a neutral interest rate is among the highest among FOMC members. He clarified that the goal is not for interest rates to have a strong impact on the economy, and the Federal Reserve does not want the employment part of the institution's mission to be jeopardized.

Higher interest rates won't stop the tech giants, but they could affect companies in other industries. Hemmack also noted that reports and comments from low-income workers were initially about buying cheaper goods, but are now struggling to prioritize paying their bills.