Barkin Says He Prefers Fed Keep Rates Restrictive for Longer
- Says Fed’s rate policy restrictive enough to lower inflation
- Labor market more likely to shift toward hiring versus firing
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Federal Reserve Bank of Richmond President Tom Barkin said there are still upside risks to inflation and growth, underscoring his preference to keep interest rates restrictive for longer.
While Barkin said he believes the central bank’s current level of rates is restraining the economy enough to continue lowering inflation in 2025, he remains wary of potential price pressures.