Central Banks
Fed’s Barkin Says Appropriate to Raise Rates ‘More Deliberately’
- Richmond Fed president warns of still-high median inflation
- Rate path seen as ‘slower, but longer and potentially higher’
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Federal Reserve Bank of Richmond President Thomas Barkin said inflation has been slowing down and the central bank doesn’t need to raise interest rates as aggressively as it did last year.
“Now, with forward-looking real rates positive across the curve and therefore our foot unequivocally on the brake, it makes sense to steer more deliberately as we work to bring inflation down,” Barkin said in remarks to the Virginia Bankers Association and Virginia Chamber of Commerce. Barkin doesn’t vote on monetary policy this year.