Fed Barr Signals More Rate Hikes Needed
Federal Reserve Governor Michael Barr said further interest rate hikes will likely be needed to curb inflation. High energy prices and AI investments have hindered progress toward the target.
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Federal Reserve Governor Michael Barr said Tuesday afternoon that further interest rate hikes will likely be needed to curb inflation. High energy prices and a surge in artificial intelligence investment have derailed progress toward the central bank's 2% goal. The remarks signal a potential shift in policy as officials weigh persistent price pressures against a solid labor market in the United States.
