Fed's Barr sees need for higher rates if inflation doesn't cool
Federal Reserve Governor Michael Barr signaled that the Fed will remain patient if inflation shows signs of cooling, but is ready to raise interest rates if price pressures persist. Barr emphasized that with inflation remaining above the Fed's target for over five years, there is a risk that elevated price pressures could become permanently embedded in the economy, necessitating decisive rate increases if inflation fails to moderate.
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Fed’s Barr Sees Need for Higher Rates If Inflation Doesn’t Cool
Federal Reserve Governor Michael Barr signaled that the Fed will remain patient if inflation shows signs of cooling, but is ready to raise interest rates if price pressures persist. Barr emphasized that with inflation remaining above the Fed's target for over five years, there is a risk that elevated price pressures could become permanently embedded in the economy, necessitating decisive rate increases if inflation fails to moderate.
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