Federal Reserve's Hammack: Inflation is too high, and restrictive policies need to be maintained

Cleveland Federal Reserve President Hammack: Inflation is too high, and the direction of the current trend is wrong.

There are signs of weakness in the labor market.

Other labor market indicators are quite stable.

Inflation expectations are my biggest concern right now.

Expectations are generally stable, but there are signs of an increase.

It is necessary to maintain a restrictive policy