"If The Fool persists in his Folly he will become wise." - William Blake
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Fed's Barkin says he could see rates at 5.5%-5.75%
Richmond Federal Reserve Bank President Thomas Barkin said on Friday that he could envision a scenario where the central bank pushes the U.S. benchmark policy interest rate to the 5.5%-5.75% range that some in financial markets are now betting it will. "That would suggest inflation was in fact more persistent than a lot of people are forecasting," Barkin told reporters after a talk at the Stanford Institute for Economic Policy Research in which he outlined why he personally worries inflation will be slow to cool, forcing the Fed to raise rates more. "It's not what I'm hoping for but I could certainly imagine it," he ... (full story)