Fed Governor Michael Barr signals more rate hikes needed to tame inflation

Fed Governor Michael Barr signals more rate hikes needed to tame inflation

Federal Reserve Governor Michael Barr announced that additional rate hikes may be necessary to manage inflation. He indicated that while economic growth is strong, inflation remains above the target of 2%. The central bank recently raised the policy rate to a range of 3.75%-4.00%. Barr's perspective contrasts with the Fed Chairman, who has not provided guidance on future rates.