Fed’s hammack: inflation has been too high for too long - ‘not confident’ inflation will ease absent action from Fed - Now is time for Fed t

Fed’s hammack: inflation has been too high for too long - ‘not confident’ inflation will ease absent action from Fed - Now is time for Fed to act to bring down high inflation - The longer inflation stays high, the harder it will be to bring back to target - With job market stable, Fed should focus on inflation - Fed rate policy is not restrictive enough