Central Banks
Fed’s Barkin Urges Slowing Rate Hikes But Higher Destination
- Richmond Fed leader cites risk-management approach to policy
- Barkin supports slower, potentially longer and higher rates
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Federal Reserve Bank of Richmond President Thomas Barkin said he favored slowing the pace of interest rate hikes in recognition of past aggressive moves, while adding that the peak of rates may need to be held for longer at potentially higher levels to dampen inflation.
“I’m very supportive of a path that is slower, probably longer and potentially higher than where we were before,” Barkin said in an interview Monday with Kathleen Hays on Bloomberg Television. He added that he expects peak rates “certainly” to be higher than he thought a couple months ago.