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Fed Governor Barr says he’ll support rate hike if inflation doesn’t ease
Barr said he would back a rate hike if inflation stays elevated, after the core personal consumption expenditures index rose 0.2% in July.
- 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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The director of the Federal Reserve (Fed, the central bank of the United States) Michael Barr said on Tuesday that if inflation does not adopt a sufficient downward trend, a high interest rate would be justified. Otherwise, the Monetary Policy Committee (Fomc) could wait a little longer to review the degree of restrictiveness of the rate. Exclusive material for subscribers. To have full access, access the link of the subject and register.
·Rio de Janeiro, Brazil
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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 Sources20
Leaning Left1Leaning Right1Center6Last UpdatedBias Distribution75% Center
Bias Distribution
- 75% of the sources are Center
75% Center
13%
C 75%
12%
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