Fed’s Barkin Says ‘Comfortable Doing More’ If Inflation Does Not Fall

Federal Reserve Bank of Richmond President Thomas Barkin poses during a break at a Dallas Fed conference on technology in Dallas, Texas, on May 23, 2019. Ann Saphir/Reuters

WASHINGTON—Richmond Federal Reserve president Thomas Barkin said Friday he is comfortable with further interest rate increases if coming data does not show that weakening demand for goods and services is feeding through to slower inflation.

“I am still looking to be convinced of the plausible story that slowing demand returns inflation relatively quickly” to the 2 percent target, Barkin said in comments prepared for delivery to the Maryland Government Finance Officer Association. “If coming data doesn’t support that story, I’m comfortable doing more.”