Fed’s Barkin Says CPI Data Show Inflation Headed Toward 2% Goal
- Richmond Fed president says policy should remain restrictive
- Says recent rise in 10-year yields need not affect Fed policy
Tom Barkin
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Federal Reserve Bank of Richmond President Tom Barkin said fresh data show continued progress on lowering inflation toward the central bank’s 2% goal, but that interest rates should remain restrictive.
New consumer-price data “continues the story we’ve been on, which is that inflation is coming down toward target,” Barkin told reporters following an event in Annapolis, Maryland. “But there’s still work to do.”