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

Path to cooling prices to Fed’s 2% goal won’t be smooth
Richmond Fed chief says recession is risk in inflation fight

WATCH: Federal Reserve Bank of Richmond President Thomas Barkin says the Fed is committed to “do what it takes” to reach its inflation target, Source: Bloomberg

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By Steve Matthews

August 30, 2022 at 12:23 PM UTC

Updated on

August 30, 2022 at 12:45 PM UTC

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Federal Reserve Bank of Richmond President Thomas Barkin vowed the US central bank would not flinch in its efforts to cool prices but cautioned it might not be a smooth process.

“We’re committed to returning inflation to our 2% target and we’ll do what it takes to get there,” Barkin said Tuesday. “I’d expect inflation to bounce around on the way back to our target,” he told the Huntington Regional Chamber of Commerce in Huntington, West Virginia.