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Fed’s Michael Barr Says Rates Should Rise Firmly If Inflation Does Not Ease Image: 연합뉴스
🇰🇷 South Korea /Economy & Trade

Fed’s Michael Barr Says Rates Should Rise Firmly If Inflation Does Not Ease

From Chosun Ilbo · () Korean

Translated from Korean and summarized by DistantNews. Read the original for the full story.

At a glance

News Named sources Context piece
  • Federal Reserve governor Michael Barr said he would support raising interest rates if inflation does not ease.
  • Barr said inflation has remained above the Fed’s 2% target for nearly five and a half years.
  • He warned that broader price pressures could become established.

Federal Reserve governor Michael Barr said he is prepared to support a firm increase in interest rates if inflation does not ease.

Speaking at a forum in Washington on Sept. 1, Barr said inflation had remained above the Federal Reserve’s 2% target for nearly five and a half years. He said he was concerned that broader price pressures could become entrenched.

I am concerned that broader price pressures could become entrenched.

— Michael BarrThe Federal Reserve governor warned about persistent inflationary pressure in a Washington forum speech.
About this summary

Originally published by Chosun Ilbo in Korean. Translated, summarized, and contextualized automatically by DistantNews, with a note on how the source frames the story. Not individually reviewed before publishing. How this works.

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