Richmond Fed President Barkin said inflation remains too high and he needs to be confident that it is slowing more rapidly to support an end to the round of rate hikes.
Richmond Fed President Tom Barkin said inflation remains too high and he needs to be confident that it is slowing more rapidly to support an end to the round of rate hikes.
“I want to reiterate that our inflation target is 2 percent and I’m still in the process of being persuaded that slowing demand is bringing inflation back to that target relatively quickly,” Barkin said Friday in Maryland. .”
He said he was willing to support further rate hikes if new data did not support that narrative. Barkin is not a voter on the Fed’s rate-setting committee this year.
(This article is translated from MarketWatch. MarketWatch is operated by Dow Jones, the parent company of The Wall Street Journal, but MarketWatch is independent of Dow Jones Newswires and The Wall Street Journal.)
…
Richmond Fed President Tom Barkin said inflation remains too high and he needs to be confident that it is slowing more rapidly to support an end to the round of rate hikes.
“I want to reiterate that our inflation target is 2 percent and I’m still in the process of being persuaded that slowing demand is bringing inflation back to that target relatively quickly,” Barkin said Friday in Maryland. .”
He said he was willing to support further rate hikes if new data did not support that narrative. Barkin is not a voter on the Fed’s rate-setting committee this year.
(This article is translated from MarketWatch. MarketWatch is operated by Dow Jones, the parent company of The Wall Street Journal, but MarketWatch is independent of Dow Jones Newswires and The Wall Street Journal.)