Economics
Barkin Says Fed Should Normalize Policy ‘as Fast as Feasible’
- ‘Go as fast as you can without breaking anything,’ he says
- Richmond Fed president interviewed during NABE event
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The US central bank should raise interest rates as fast as it can without causing undue harm to financial markets or the economy, said Federal Reserve Bank of Richmond President Thomas Barkin.
“We are in a situation where inflation is high, it’s broad based, it’s persistent, and rates are still well below normal,” Barkin said Tuesday in a live-streamed event hosted by the National Association for Business Economics. “The spirit is, you want to get back to where you want to go as fast as you can without breaking anything.”