Fed Will Stick to the Task of Curbing Inflation, Barkin Says

Federal Reserve Bank of Richmond President Thomas Barkin said the US central bank will “persist” in its efforts to bring high inflation under control.

“Inflation should come down. But don’t expect its drop to be immediate or predictable,” he said during an event Monday hosted by his bank. “Our rate and balance sheet moves take time to bring inflation down, but the Fed will persist until they do. One of the key lessons from the 70s was not to declare victory prematurely.”