Fed Governor Barr Says Future Rate Hikes Likely to Tame Inflation
The Hill1 min read86 words
Federal Reserve Governor Michael Barr said Wednesday that the central bank will “likely” raise interest rates again to counter persistent inflation, following the first rate hike in more than three years that the Fed implemented last week.
Barr, a member of the rate‑setting Federal Open Market Committee (FOMC), noted that the committee’s unanimous decision to raise the benchmark interest rate by an amount was part of the effort to tame inflation.
The governor’s remarks indicate that the Fed may raise rates again to address inflationary pressures.
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