Fed's Barr says future interest rate hikes 'likely' needed to tame inflation
Federal Reserve Governor Michael Barr stated that further interest rate hikes are likely necessary to combat persistent inflation. This follows the central bank's recent decision to raise the benchmark rate for the first time in over three years. Barr is a member of the Federal Open Market Committee.
Federal Reserve Governor Michael Barr said Wednesday the central bank will “likely” raise interest rates again to counter persistent inflation, after it did so last week for the first time in three-plus years. Barr, a member of the rate-setting Federal Open Market Committee (FOMC), said the unanimous decision to raise the benchmark interest rate by...
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