Fed Official Comments on Dollar's Decline and Inflation Concerns

According to PANews, Federal Reserve official Hamark stated that while the U.S. dollar is not a central topic in discussions, its weakening this year is not a cause for concern. Hamark explained that the dollar's decline is largely a correction from its previously strong position, bringing it closer to a fair valuation compared to other currencies. Hamark emphasized the importance of maintaining restrictive interest rate policies to exert downward pressure on inflation, which remains a concern. She noted that the Federal Reserve faces challenges in balancing its dual mandate of managing inflation and employment. "Overall, I believe we need to maintain a degree of tightening to continue pressuring inflation back to our target level," she added.