The Federal Reserve’s decision to raise interest rates last week may mark the first of several hikes aimed at taming stubborn inflation, and one central bank leader weighed in on where inflation may go from here.
Federal Reserve Bank of Richmond President Tom Barkin said in a speech before CFA Society Baltimore Tuesday that the “risks to inflation outweigh the risks to maximum employment. That’s why we raised rates.”
Barkin, who is a non-voting member of the Federal Open Market Committee (FOMC) this year, compared the Fed’s dual mandate between promoting maximum employment and price stability to raising children, saying “inflation is our…
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