Federal Reserve governor Michael Barr said Tuesday that if inflation doesn’t come down adequately, the central bank should raise interest rates.
Ahead of the Fed policy meeting in just over two weeks, Barr said the outlook for inflation and the economy will top the agenda.
“If trends in the data give me some confidence that inflation is moderating on a path to 2%, then I think we can take a bit more time to assess our policy stance,” Barr said, according to prepared remarks. “However, if inflation appears not to be moderating sufficiently, then I think we should act decisively to raise rates.”
Jennifer Schonberger | Yahoo Finance