[Federal Reserve's Harker: Multiple Rate Hikes May Be Needed to Curb Inflation] BlockBeats News, August 11 – Cleveland Federal Reserve President Harker stated that current inflation has not yet returned to target levels, and the Federal Reserve may need to implement multiple rate hikes. She mentioned that a single 25-basis-point rate hike 'would not have a significant impact on the economy,' but she was unwilling to predict the exact number of rate hikes or the final interest rate level. Harker believes that the current 3.50%-3.75% interest rate range has not imposed significant restrictions on the economy, as businesses have not reduced growth investments due to high interest rates. Therefore, 'now is the time to take action.' She emphasized that the longer the delay, the harder it will be to bring inflation back to 2%. Harker also highlighted that the labor market currently shows no significant issues, and the July employment data will not change her focus on inflation. She stated that the market can only assist the Federal Reserve but cannot replace the Fed in taking action. Harker opposed maintaining unchanged rates during the Federal Reserve's July policy meeting and leaned toward a 25-basis-point rate hike. (Jin10)