Skip to content
Central Banks

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
Video player cover image
What to Watch for in Powell’s Jackson Hole Message
Updated on

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.