Fed’s Barkin Says Half-Point Hike Depends on Economy in May
- ‘Real chance’ rates need to go above neutral to cool prices
- Richmond Fed chief speaks in interview on Bloomberg Television
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Federal Reserve Bank of Richmond President Thomas Barkin said he’s open to raising interest rates by half a percentage point at the Fed’s policy meeting in May, depending on how strong the U.S. economy is at that time.
“I’m open to it,” Barkin said Wednesday in a Bloomberg Television interview with Michael McKee. “I think the question -- and we will make this decision when we get to the meeting in May -- is how strong does the economy still look in terms of its ability to take rate increases and how high is inflation persisting. I’m looking at both of those and we’ll make our call in May.”