10/15, 2:31 PM (Source: TeleTrader)
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Fed's Barkin: US inflation broadening, to watch risks on prices

President of the Federal Reserve Bank of Richmond, Thomas Barkin, said on Friday that he sees inflation in the United States as broadening and that risks on consumer prices should be watched for.

The inflation is heavily driven by the auto sector, Barkin told CNBC, adding that supply chain issues are prompting an increase in food and energy costs. However, he argued that certain aspects of inflation are easing.

Barking didn't want to explicitly comment on reports that high-ranking Fed officials are trading stocks, although noting that the central bank should revisit its ethics rules.

Breaking the News / ND