[Federal Reserve's Harker: Further Policy Tightening Needed to Reduce Inflation] According to a report by Jinse Finance, on October 13, Cleveland Federal Reserve President Harker stated that the Federal Reserve needs to bring monetary policy to a restrictive level to drive inflation back to the 2% target. She noted that the current policy stance implies that the timeline for inflation to decline may be longer than acceptable, and therefore, 'more tightening is needed.' Harker mentioned that further rate hikes might still be necessary in the future, though the timing remains uncertain. She prefers a strategy of 'smaller, more frequent' adjustments to help businesses and households plan ahead. Harker pointed out that business input costs are rising, and more companies are beginning to pass these costs on to consumers. If prices are no longer constrained by demand, inflation could rise further or remain elevated. She highlighted that the greatest inflation risk is individuals and businesses developing an 'inflation mindset,' gradually accepting higher inflation levels, which would make it more challenging for the Federal Reserve to bring inflation back to its target. Some signs of this have already emerged. Regarding the rise in U.S. Treasury yields, Harker stated that it is primarily driven by factors such as economic growth expectations, market repricing of Federal Reserve policies, fiscal pressures, and large-scale bond issuance. She noted that the investment boom in data centers is driving growth, but the current financial environment still requires further tightening to help reduce inflation. Harker also emphasized that the Federal Reserve's independence 'remains critically important.'