Central Banks
Barkin Says Fed May Extend Rate Hikes If Inflation Persists
- Price increases are normalizing but relatively slowly
- Richmond Fed chief is non-voting policy maker this year
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Federal Reserve Bank of Richmond President Thomas Barkin said the central bank may need to raise interest rates to a higher level than previously anticipated should inflation keep running too fast for comfort.
“Inflation is normalizing but it’s coming down slowly,” Barkin said Tuesday in a Bloomberg TV interview with Michael McKee and Jonathan Ferro.