Cleveland Fed President Beth Hammack said benchmark rates must move into restrictive territory to curb persistent inflation, favoring measured and frequent policy adjustments. Speaking in Zurich, she dissented alongside one other official at last week's FOMC meeting, which paused borrowing costs. September headline and core PCE inflation stood at 3.6% and 3.1%, well above the 2% target. She argued that price stability and central bank independence underpin the dollar's reserve status, though its share of global FX reserves has eased to about 57% from above 70% in the early 2000s. She noted that dollar-pegged stablecoins reinforce the greenback's international reach and could support Treasury bill demand, while questioning whether the GENIUS Act will meaningfully lift global dollar demand.
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Fedinterest ratesinflationUS dollarstablecoins
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Related tickers and likely impact
DXY
▲ Likely positiveRelevance: high
| Market | Currencies |
|---|---|
| Close on 11/04/2026 | 101.53 |
| Change that session | -0.33% |
EUR/USD
▼ Likely negativeRelevance: medium
| Market | Currencies |
|---|---|
| Close on 11/04/2026 | 1.12293 |
| Change that session | +0.33% |
XAU/USD
▼ Likely negativeRelevance: medium
| Market | Gold |
|---|---|
| Close on 11/04/2026 | 4,060.57 |
| Change that session | +3.32% |
GBP/USD
▼ Likely negativeRelevance: low
| Market | Currencies |
|---|---|
| Close on 11/04/2026 | 1.34722 |
| Change that session | +0.43% |
USD/JPY
▲ Likely positiveRelevance: low
| Market | Currencies |
|---|---|
| Close on 11/04/2026 | 158.427 |
| Change that session | -0.18% |
AUD/USD
▼ Likely negativeRelevance: low
| Market | Currencies |
|---|---|
| Close on 11/04/2026 | 0.70063 |
| Change that session | +0.59% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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