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Barkin says rates may not be restrictive enough for 2% inflation goal
Richmond Fed President Tom Barkin said he was unsure whether he would have supported a 25 basis-point hike after three Fed governors dissented at this week’s meeting.
Richmond Federal Reserve President Tom Barkin said he remains uncertain whether the current level of interest rates is restrictive enough to bring inflation back to the Fed’s 2% target, according to an interview published by The Wall Street Journal, as relayed by FXStreet.
Barkin also said he was unsure whether he would have joined three Fed committee members who dissented in favor of a 25 basis-point rate increase at this week’s policy meeting, after the Fed left rates unchanged.
He said he is skeptical that the labor market has strengthened meaningfully and added that price increases are moving through the economy unevenly.