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