Fed’s Barr Says Further Policy Adjustments Likely Needed to Tame Inflation
Federal Reserve Governor Michael Barr repeated a warning that further interest-rate increases will likely be needed to slow inflation in a timely fashion. Barr said the Fed wants “to support sustainable, durable growth in support of maximum employment, and price stability is crucial to that” in remarks Tuesday at an event in Detroit. (Source: Bloomberg)
Federal Reserve Governor Michael Barr has stated that further interest-rate increases are likely needed to slow inflation. He emphasized the importance of price stability for sustainable growth and maximum employment.
Barr mentioned that the labor market is solid, supported by business investment and consumer spending, and expects GDP growth to pick up in the second half of the year from a 2% pace in the first half.
According to money markets, there is a nearly 66% chance of a rate hike by the Federal Reserve at the October meeting and a 94% chance for a rate increase at the December meeting, as reported by FXStreet.
Brief written by urgent.news from Bloomberg, FXStreet — 2 reports on this story. Machine-written — may contain errors; check the original before relying on it.
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