Federal Reserve Chair Jerome Powell said this week that further rate hikes would be needed to quash inflation. Investors have lifted where they see rates peaking this year and are now largely in line with policy makers’ projection following the much stronger-than-expected January employment report.
Barkin said while the past three monthly inflation reports have been positive, the Fed can’t take for granted that will continue.
“Until we’re confident that the things people care about are under control, I think we’ve still got a ways to go,” he said.
