Fed Rate Increases to Persist Until Inflation Eases, Barkin Says

“Inflation ought to come down, however I don’t anticipate its drop to be instant nor predictable,” mentioned Barkin, who isn’t a voter on the rate-setting Federal Open Market Committee this 12 months. “Important shocks merely take time to dampen,” he mentioned, referring to the disruptions created by the Covid-19 pandemic, supply-chain snarls, and Russia’s invasion of Ukraine.