Richmond Federal Reserve President Tom Barkin said on Thursday that whether the US central bank needs to raise interest rates remains an “open question,” while Cleveland Fed President Beth Hammack reiterated her call for an immediate increase to curb persistent inflation, according to Reuters’ reports.
“The inflation mystery is not whether inflation will come back to our 2% target or not. The Federal Open Market Committee has made clear that we are committed to doing so,” Barkin said in remarks prepared for delivery to the Greenville Chamber of Commerce. “The open question is how it gets there. Will the Fed need to raise rates or is inflation already on a path down to target?”
