Barkin Favors Fed Acting More Deliberately Than Hikes Last Year
- Returning to price stability to take a lot more time, effort
- Richmond Fed chief sees case to move rates more deliberately
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Federal Reserve Bank of Richmond President Thomas Barkin said the central bank must continue raising interest rates and hold them at a high level to move inflation lower over time.
“Inflation is likely past peak,” Barkin said at an event at Stanford University. “But I think it will take time to return to target, and, as a consequence, believe we still have work to do.” He is not a voting member of the policy-setting Federal Open Market Committee this year.