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MNI BRIEF: Fed Not Considering Revising 2% Price Target-Barr

(MNI) WASHINGTON

The Fed is focused on lowering inflation to 2% and isn't considering revising that underlying target, Vice Chair For Supervision Michael Barr said Thursday, amid some outside arguments the central bank should raise the target .

"We are not at all thinking about revising the target. We are quite committed to the inflation target of 2%. We are quite committed to the steps necessary to get to 2%," Barr told a virtual event sponsored by the American Enterprise Institute.

Chair Jay Powell this week acknowledged the Fed would stick to another framework review that could "bear fruit" in 2025 or 2026.

MNI Washington Bureau | +1 202-371-2121 | evan.ryser@marketnews.com
MNI Washington Bureau | +1 202-371-2121 | evan.ryser@marketnews.com

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