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Fed’s Barkin Says Central Bank ‘Will Do What It Takes’ to Curb Inflation

  • Richmond Fed chief says returning inflation to 2% is top goal
  • Barkin says rates need to go into restrictive territory
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Federal Reserve Bank of Richmond President Thomas Barkin said the central bank was resolved to curb red-hot inflation, even if that meant risking a US economic recession.

“We’re committed to returning inflation to our 2% target and we’ll do what it takes to get there,” Barkin said Friday during an event in Ocean City, Maryland. He said that this could be achieved without a “tremendous decline in activity” but acknowledged that there were risks.