Central Banks
Fed’s Barkin Comfortable Doing More to Slow Resilient US Economy
- The Richmond Fed leader says he wants to avoid 1970s repeat
- Slowing pace of hikes gives Fed time to assess moves, he says
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Federal Reserve Bank of Richmond President Thomas Barkin said the central bank might need to tighten monetary policy further to reduce inflation and slow a resilient US economy and labor market.
“I want to reiterate that 2% inflation is our target, and that I am still looking to be convinced of the plausible story that slowing demand returns inflation relatively quickly to that target,” Barkin said in prepared remarks for a speech in Ocean City, Maryland. “If coming data doesn’t support that story, I’m comfortable doing more.”