Fed’s Barkin: slower rate hikes, for longer and maybe higher
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Reuters has reported that Richmond Federal Reserve Bank President Thomas Barkin on Monday said he supports smaller interest-rate hikes ahead as the central bank moves to bring down too-high inflation.
“I’m very supportive of the path that is slower, probably longer and potentially higher,” Barkin said in an interview with Bloomberg TV, though he declined to say how high he believes rates will need to go.
The Fed “will do what we need to do” to get inflation under control, he said.
The US Dollar is higher on the back foot amid a global risk-off start to the week. Major market averages opened trading at the start of this week lower due to the protests in China over COVID lockdowns bringing some selling pressure to global equities. DXY is up 0.57% to 106.66.
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