8/30/2022, 2:35 PM (Source: TeleTrader)
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Fed's Barkin: US facing post-war-like inflation

President and CEO of the Federal Reserve Bank of Richmond Thomas Barkin stated on Tuesday, speaking before the Huntington Regional Chamber Of Commerce, in West Virginia, that the United States is facing a "post-war-like inflation."

Barkin underlined that although he does not believe the country is currently in a recession, there simply exists a risk of it occurring as the central bank stays committed to bringing inflation down to the target of 2%. Nevertheless, he noted that recession "does not have to be calamitous."

Barkin further commented that he does not expect the inflation "to come down predictably." He added that he is uncertain when the Fed will be able to get inflation back to its target.

Baha Breaking News (BBN) / AY