[Federal Reserve Voting Member Hammack: Need to Shift to a Tightening Stance, Favoring Smaller and More Frequent Rate Adjustments] According to the Cleveland Fed's official website, Beth Hammack, the 2026 FOMC voting member and President of the Cleveland Federal Reserve, stated at the annual meeting of the National Association for Business Economics that, based on the current economic conditions, forecasts, and inflation risks, adopting a restrictive monetary policy stance is appropriate to ensure inflation returns to the 2% target in a timely manner. She noted that although U.S. Treasury yields have risen significantly recently, overall financial conditions remain neutral and have not suppressed demand, indicating the economy can withstand tighter policies. By making more frequent and smaller adjustments to "trim the sails," the risks of entrenched inflation expectations and prolonged inflation decline can be mitigated. Hammack also mentioned that if there are clear signs of deterioration in the labor market, the policy path may need to respond accordingly; if inflation exceeds expectations, interest rates may need to be raised further.