Central Banks
Fed Officials Stress Need to Keep Raising Rates to Cool Prices
- Richmond Fed chief favored 25 basis-point increase in February
- Governor Michelle Bowman says policy not yet slowing economy
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Two Federal Reserve officials said that interest rates need to keep rising, with one arguing they should keep moving at a gradual pace.
“I like the 25 basis-point path,” Richmond Fed President Thomas Barkin told reporters Friday in Rosslyn, Virginia. It “gives us the flexibility to respond” to data as it comes in, he said, adding that he supported the move at the most recent policy-setting meeting.