Federal Reserve Governor Michael Barr said on Sept. 1 that the Fed should be prepared to raise interest rates if inflation fails to move lower. He warned that inflation has stayed above target for more than five years, creating a risk that price pressures become entrenched. Barr also said policymakers could afford to be patient if upcoming data show inflation is easing and moving toward the Fed’s 2% goal. In prepared remarks for a Tuesday event in Washington, Barr said he would support taking more time to assess the policy stance if the data trend gives him confidence that inflation is moderating. But if inflation does not appear to be cooling by a sufficient margin, he said the Fed should act decisively and lift rates. The report was cited by BlockBeats and attributed to Jin10.
Federal Reserve Governor Michael Barr said on Sept. 1 that the Fed should be ready to raise interest rates if inflation does not retreat, according to BlockBeats.
Barr warned that inflation has remained above target for more than five years, raising the risk that price pressures become entrenched. He said policymakers can remain patient if upcoming data show inflation is cooling.
Barr lays out the rate path
In prepared remarks for a Tuesday event in Washington, Barr said, "If the trend in the data gives me confidence that inflation is moderating and moving toward the 2% target, then I think we can spend more time assessing the policy stance. But if inflation does not appear to be cooling by a sufficient amount, then I think we should act decisively and raise interest rates."
The report cited Jin10 as the source.
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