Federal Reserve governor Michael Barr said Wednesday that additional interest rate hikes are needed to bring down sticky inflation.
“Further policy adjustments are likely to be needed to ensure inflation comes down to target in a timely fashion,” Barr said in a speech in Chicago. “Inflation is above our 2% target and not clearly trending toward target in a timely way. Moreover, risks to achieving our inflation target have increased, while risks to the labor market have receded.”
Jennifer Schonberger | Yahoo Finance