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Fed Governor Barr says he’ll support rate hike if inflation doesn’t ease
- Federal Reserve Governor Michael Barr said he will support an interest rate hike if inflation does not ease, warning the Fed should "act decisively" to raise rates if price pressures persist.
- The remarks came after the Fed's preferred inflation gauge rose 0.2% in July, putting the annual rate at 3.7%, while core personal consumption expenditures reached 3.3% year-over-year according to Commerce data.
- Kansas City Federal Reserve President Jeffrey Schmid described inflation as "still stubborn and it's still sticky," while Chair Kevin Warsh warned recent readings do not show underlying trends have "meaningfully improved."
- Minutes from the FOMC meeting released last week showed members would need to hike rates unless inflation cools; the Fed kept rates unchanged but officials voted for tightening.
- Speaking in Washington, Barr noted that if data confirms inflation is moderating toward 2%, the Fed could delay adjustments; otherwise, the central bank has "work to do" to curb price pressures.
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10 Articles
Fed’s Barr Says Higher Rates Needed If Inflation Doesn’t Cool
Federal Reserve Governor Michael Barr said the central bank should be prepared to raise interest rates if inflation fails to subside, warning price pressures are at risk of becoming entrenched after being above target for more than five years.
·New York, United States
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Coverage Details
Total News Sources10
Leaning Left1Leaning Right0Center5Last UpdatedBias Distribution83% Center
Bias Distribution
- 83% of the sources are Center
83% Center
L 17%
C 83%
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