Barkin Says He Prefers Fed Keep Rates Restrictive for Longer (1)

Federal Reserve Bank of Richmond President Tom Barkin said there are still upside risks to inflation and growth, underscoring his preference to keep interest rates restrictive for longer.

While Barkin said he believes the central bank’s current level of rates is restraining the economy enough to continue lowering inflation in 2025, he remains wary of potential price pressures.

“I think there is more upside risk than downside risk,” Barkin said Friday to reporters following prepared remarks in Linthicum Heights, Maryland. “So I put myself in the camp of wanting to stay restricted for longer.”

Barkin, who ...