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The Economic Times
The Economic Times
Business

US Fed's Michael Barr warns central bank may need to raise rates if inflation stays high

Michael Barr Inflation United States US Federal Reserve Monetary Policy

Federal Reserve Governor Michael Barr said on Tuesday the U.S. central bank may need to raise interest rates if inflation does not show enough signs of cooling, adding to the pressure on policymakers ahead of their September meeting.

"Inflation remains too high and has been for over five years," Barr said in prepared remarks for the Second Chance Lending Forum.

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