[Federal Reserve's Hammack: Policy Needs to Remain Tight to Reduce Inflation Pressure] On November 14, Federal Reserve's Hammack stated that a weakening labor market poses challenges to the Fed's employment mandate, with the current unemployment rate nearing its peak. Some inflation may be driven by tariffs, but service inflation is concerning. The Fed's policy needs to maintain a certain degree of tightness to reduce inflation pressure. Tariffs are expected to push inflation rates higher before early next year.