Fed's Barkin wants to keep hiking interest rates until there is a 'sustained period' of inflation under control | The Markets Café
  • Privacy Policy
  • Terms of use
  • Press Release
  • Advertise
  • Contact
Wednesday, March 22, 2023
No Result
View All Result
Subscribe
  • Login
The Markets Café
en English
zh-CN 简体中文en Englishfr Françaisde Deutschhi हिन्दीit Italianoja 日本語pt Portuguêsru Русскийes Españoltr Türkçe
  • News
  • Politics
  • Markets
    • Stocks
    • Futures
    • Commodities
  • Crypto
    • News
    • Markets
    • NFT
    • DeFi
    • Explained
  • Economy
  • Finance
  • Investing
  • Forex
  • Real Estate
  • Tech
  • VideosHOT
  • Community
  • Charts
  • News
  • Politics
  • Markets
    • Stocks
    • Futures
    • Commodities
  • Crypto
    • News
    • Markets
    • NFT
    • DeFi
    • Explained
  • Economy
  • Finance
  • Investing
  • Forex
  • Real Estate
  • Tech
  • VideosHOT
  • Community
  • Charts
No Result
View All Result
The Markets Café
No Result
View All Result
  • News
  • Politics
  • Markets
  • Crypto
  • Economy
  • Finance
  • Forex
  • Investing
  • Tech
  • Videos
  • Community
Home Economy

Fed’s Barkin wants to keep hiking interest rates until there is a ‘sustained period’ of inflation under control

by Press Room
August 13, 2022
in Economy
100 3
A A
0
21
SHARES
687
VIEWS
FacebookTwitter

While the inflation data this week was certainly “welcome,” the Federal Reserve should continue to raise its benchmark interest rate until the data show continuous progress on inflation, Richmond Fed President Tom Barkin said Friday.

“We’re happy to see inflation start to move down. I’d like to see a period of sustained inflation under control. And until we do that, I think we’re just going to have to continue to move rates into restrictive territory,” Barkin said in an interview on CNBC.

Asked to define a sustained period of inflation, Barkin pointed to the central bank’s 2% target.

He said he doesn’t want the Fed “to raise rates and lower rates and raise rates and lower rates every time the economy bounces around.”

The better policy is to get inflation down and then talk about rate cuts, he added.

Since March, the Fed has raised its benchmark rate to a range of 2.25%-2.5% from close to zero — the fastest pace of tightening since the early 1980s.

Barkin demurred when asked about the size of a prospective rate hike in September. He said he would make up his mind after seeing the economic data released between now and the next Fed decision day on Sept. 21.

Fed officials are debating whether to raise rates by 0.75 percentage points for the third straight meeting or a slower 0.5 percentage point hike.

The Richmond Fed president downplayed concerns about the outlook for the economy.

“It still seems like the economy is in a fundamentally sound place,” he said.

Stocks
DJIA,
+1.27%

SPX,
+1.73%
were higher on Friday on the better-than-expected inflation data this week. The yield on the 10-year Treasury note
TMUBMUSD10Y,
2.838%
inched down to 2.87%.

Read the full article here

Related Articles

Economy

UK inflation rate breaks 3-month stretch of declines with surprise rise to 10.4%

March 22, 2023
Economy

U.K. Feb. CPI climbs a higher-than-expected 10.4% from 10.1%

March 22, 2023
Economy

China and Russia affirm economic cooperation for the next several years

March 22, 2023
Economy

Gold prices could notch an all-time high soon — and stay there

March 22, 2023
Economy

Rep. Ro Khanna defends fundraiser at David Sacks’s home after supporting Silicon Valley Bank bailout

March 22, 2023
Economy

Al Franken, guest hosting ‘The Daily Show,’ surveys common ground with former Senate colleague Lindsey Graham on Putin if not Trump

March 22, 2023

About Us

The Markets Café

The Markets Cafe is your one stope Finance, Politics and bussines news website, follow us to get the latest news and updates from around the world.

Sections

  • Commodities
  • Crypto Markets
  • Crypto News
  • DeFi
  • Economy
  • Explained
  • Finance
  • Forex
  • Futures
  • Investing
  • Markets
  • News
  • NFT
  • Politics
  • Real Estate
  • Stocks
  • Tech
  • Videos

Site Links

  • Contact
  • Advertise
  • DMCA
  • Submit Article
  • Forum
  • Site info
  • Newsletter

Newsletter

THE MOST IMPORTANT FINANCE NEWS AND EVENTS OF THE DAY

Subscribe to our mailing list to receives daily updates direct to your inbox!

  • Privacy Policy
  • Terms of use
  • Press Release
  • Advertise
  • Contact

© 2022 The Markets Café - All rights reserved.

No Result
View All Result
  • News
  • Politics
  • Markets
    • Stocks
    • Futures
    • Commodities
  • Crypto
    • News
    • Markets
    • NFT
    • DeFi
    • Explained
  • Economy
  • Finance
  • Investing
  • Forex
  • Real Estate
  • Tech
  • Videos
  • Community
  • Charts

© 2022 The Markets Café - All rights reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.