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Fed’s Barkin says he supports ‘normalizing’ monetary policy -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO – President Thomas Barkin of the Federal Reserve Bank of Richmond poses for a photo during a lunch break at the Dallas Fed Conference on Technology in Dallas (Texas), U.S.A, May 23, 2019. REUTERS/Ann Saphir

NEW YORK (Reuters] – Federal Reserve officials should be prepared to modify monetary policies to address changes in the economy. This includes inflation rising more quickly than predicted due to factors such as the virus and fiscal support.

Barkin spoke at a virtual conference organized by The Peterson Institute for International Economics. He stated that an important aspect of the U.S. central banking’s price stability mandate includes anchoring inflation expectations close to its 2% target.

He stated that he takes actual inflation seriously and their impact very seriously. That’s why he supports normalizing the policy we are currently using.

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