Fed’s Barr Sees Need for Higher Rates If Inflation Doesn’t Cool

Federal Reserve Governor Michael Barr said the central bank could delay rate increases if upcoming economic data show inflation cooling, but would raise rates if inflation persists. Barr stated, "If inflation appears not to be moderating sufficiently, then I think we should act decisively to raise rates." He noted that price increases have remained above the Fed's target for more than five years. Barr made the remarks Tuesday at an event in Washington.

Next story