WOODBRIDGE, Va., Sept 30 (Reuters) – “Festering” inflation stays an even bigger risk to the financial system than the dangers of Federal Reserve fee hikes going too far and inflicting pointless injury within the effort to regulate it, Richmond Fed President Thomas Barkin mentioned on Friday.
“At this level the danger of inflation festering looks like an even bigger threat than inflation coming down by itself and us having oversteered,” Barkin mentioned in remarks to reporters after a chamber of commerce occasion.
Barkin mentioned he was reserving judgment on the right fee enhance for the Fed’s subsequent assembly, however that knowledge launched Friday confirmed inflation continued to be each broad and chronic.
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Reporting by Howard Schneider
Modifying by Chris Reese
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