Fed’s Barr calls economy “strikingly” resilient, defends last hike
Federal Reserve (Fed) Governor Michael Barr said Tuesday that he sees “elevated wage rates in the skilled trades,” and added that the resilience of the US economy is “striking.”
Federal Reserve Governor Michael Barr described the economy as "strikingly" resilient on Tuesday, highlighting elevated wage rates in skilled trades. He emphasized the Fed's commitment to data-driven decision-making and the balance of risks to achieve its dual mandate of price stability and full employment. Barr stated that the last rate hike was "appropriate" and that further adjustments might be necessary to bring inflation closer to the 2% target.
The US economy's momentum appears to be growing, according to the Governor, who stressed that the Fed remains focused on the evolving outlook and the balance of risks.
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