Central Banks
Fed’s Barkin Says There’s More Work to Do to Rein in Inflation
- Richmond Fed president speaks about outlook in CNBC interview
- Barkin spoke after report shows moderating inflation
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Federal Reserve Bank of Richmond President Thomas Barkin said policymakers still have more work to do to tame prices after fresh data Wednesday showed inflation remained well above the Fed’s 2% target.
“I certainly think we are past peak on inflation, but we still have a ways to go,” Barkin said in a CNBC interview from Roanoke, Virginia, where the bank was hosting a conference. Barkin said he sees signs that demand is cooling, but said he was wary of declaring victory on inflation too soon, and noted that prices excluding food and energy were still too high.