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Fed’s Barkin - Inflation Could Persist Despite Bank Turmoil

  • MNI - The Federal Reserve must remain vigilant to the possibility that inflation worries have become so widespread in the economy that the recent banking turmoil and its drag on economic activity might not be enough to tamp down price pressures, Richmond Fed President Thomas Barkin said Thursday.
  • “It is possible that tightening credit conditions, along with the lagged effect of our rate moves, will bring inflation down relatively quickly. But I still see three reasons why it could take time for inflation to return to target,” Barkin said in prepared remarks to the Virginia Council of CEOs.

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