Richmond Fed President Thomas Barkin said policy-makers can ‘determine whether inflation remains at a level that requires us to put the brakes on the economy or not’ once the central bank gets in the range of the neutral rate
The U.S. Federal Reserve can assess how much more it needs to do to bring inflation back down to its 2 per cent goal when it has raised borrowing costs to a neutral level, Richmond Fed President Thomas Barkin said on Tuesday.
The central bank last week raised its benchmark overnight lending rate by half a percentage point and has pivoted in recent months to become more aggressive in tightening policy as it seeks to return inflation, which remains at a 40-year high, closer to its goal. There are some tentative signs inflation has peaked, which would be welcomed by Fed policy-makers as they seek to avoid having to become more aggressive with rate hikes to rebalance the economy.
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