Fed’s Hammack Says Interest Rates Need to Rise Further

The significance lies less in the direction than in the source: a single Fed voice arguing for further tightening can shape the tone of the policy debate even without a number or timeline attached. For rate-sensitive corners of crypto, the marginal cost of holding non-yielding assets stays in focus as long as that argument carries weight. Whether it reflects a broader shift on the committee or a minority view is the open question, and the next round of Fed communication is where that becomes clearer.