Fed’s Barkin Says Inflation Progress May Be At Risk of Stalling

Federal Reserve Bank of Richmond President Tom Barkin said the US-Israel war in Iran threatens to add to already elevated inflationary pressures and clouds the economic outlook at a time when the labor market is fragile.

Barkin said it is hard to ignore the data released over the last few months from the Fed’s preferred inflation measure, which suggested the US central bank’s progress on inflation “may be at risk of stalling.”

President of the Federal Reserve Bank of Richmond Thomas Barkin

Photographer: Christopher Goodney/Bloomberg

“And that was before the oil price spike — the latest in a series of cost-increasing supply shocks after the pandemic, semiconductor chip shortages, the war in ...