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MNI BRIEF: Fed Nominee Barr Vows To Bring Inflation Down

(MNI) Washington
(MNI) Washington
True

Michael Barr, the Biden administration’s nominee for the role of Federal Reserve Vice Chair for Supervision, told lawmakers Thursday he would do whatever it takes to rein in surging U.S. inflation.

“I strongly believe that inflation is far too high today and I'm committed to bringing it down to the Federal Reserve’s target of 2%,” Barr told the Senate Banking Committee during his confirmation hearing.

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Michael Barr, the Biden administration’s nominee for the role of Federal Reserve Vice Chair for Supervision, told lawmakers Thursday he would do whatever it takes to rein in surging U.S. inflation.

“I strongly believe that inflation is far too high today and I'm committed to bringing it down to the Federal Reserve’s target of 2%,” Barr told the Senate Banking Committee during his confirmation hearing.

Keep reading...Show less