Fed’s Barr Says Appropriate to Hold Rates for ‘Some Time’ (1)

Federal Reserve Governor Michael Barr said interest rates should remain steady until officials see more evidence that inflation is heading toward the central bank’s 2% target.

“Based on current conditions and the data in hand, it will likely be appropriate to hold rates steady for some time as we assess incoming data, the evolving outlook and the balance of risks,” Barr said Tuesday in remarks prepared for an event in New York.

Federal Reserve Governor Michael Barr

Photographer: Ore Huiying/Bloomberg

Fed officials opted to leave interest rates unchanged last month after lowering their benchmark rate by three quarters of a percentage point in the closing months of ...