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12/2/2021, 6:22 PM (Source: TeleTrader)
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Fed's Barkin: Inflation gone up faster than expected

Richmond Federal Reserve Bank President Thomas Barkin asserted on Thursday that inflation has gone up faster than the central bank predicted it would.

Barkin attributed the fast rise to the effects of the pandemic, as well as the increased fiscal stimulus meaning that demand has remained stable throughout causing supply disruptions over the previous months.

Barkin said that long-term inflation expectations are always a concern, adding that it is important to have them stable and at the point of the Fed's target of 2%. Lastly, he expressed his support for normalizing the monetary policy, which the central bank is currently doing.

Baha Breaking the News (BBN) / OL