Fed’s Barr says future interest rate hikes ‘likely’ needed to tame inflation

Last week's hike was the trial balloon. This is the forecast for the storm.

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…

Read it at The Hill ↗

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