NewsDialy
Federal Reserve Governor Michael Barr stated on Wednesday that the US central bank will likely need to deliver additional interest rate hikes to bring inflation down to its target.
Barr made these remarks during a speech at a Chicago Fed housing affordability conference, noting that risks to achieving the inflation goal have increased while labor market risks have receded.
The Federal Reserve raised its policy rate to the 3.75%-4.00% range in a unanimous decision last week. Sixteen of the 18 Fed policymakers signaled that at least one more rate hike is probable before the end of the year.
Barr's comments suggest he believes at least two more hikes are required, although he did not specify a timeline for when they might occur.
Keep reading