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MNI: Barkin Sees Risk Of Higher Fed Rates Amid Sticky Prices

(MNI) WASHINGTON

Richmond Fed chief says recent string of stronger-than-expected data is unsustainable.

Federal Reserve Bank of Richmond President Thomas Barkin said Friday some recent signals about a hot economy may be overstated and he favors a slower pace of interest-rate hikes than last year, while adding he's prepared to tighten even more if needed.

"It makes sense to move more deliberately than we did last year," he said, emphasizing data dependence in prepared remarks. "If I’m right and inflation persists, we can react by raising rates further."

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Federal Reserve Bank of Richmond President Thomas Barkin said Friday some recent signals about a hot economy may be overstated and he favors a slower pace of interest-rate hikes than last year, while adding he's prepared to tighten even more if needed.

"It makes sense to move more deliberately than we did last year," he said, emphasizing data dependence in prepared remarks. "If I’m right and inflation persists, we can react by raising rates further."

Keep reading...Show less