Fed's Barkin says US inflation coming down slowly
By Alexander Bueso
Date: Tuesday 14 Feb 2023
(Sharecast News) - A top US central bank official said that policymakers may need to take interest rates higher than previously expected if inflation continued to run too fast.
In remarks made to Bloomberg TV, Federal Reserve Bank of Richmond President, Thomas Barkin, did say that "inflation is normalising but it's coming down slowly".
But he also reporteldy said that "if inflation persists at levels well above our target, maybe we'll have to do more."
Barkin was speaking after the release of the January CPI report.
He added that risks were on the inflation side of things as opposed to the economy said.
"You have seen demand moving very quickly [in some sectors]."
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