"We have seen three good months on the inflation prints. I'd like to see them continue. Is inflation calming? That's really the core question for this year," Barkin said. He said he felt the decline so far had been "distorted" by some falling goods prices.
"We all know what people care about. They care about food and gas and shelter. Until we're confident that the things people care about are under control, I think we've still got a ways to go," said Barkin, who is not a voting member of the rate-setting Federal Open Market Committee this year.
He did not pinpoint his own sense of where the Fed might pause ongoing hikes to its benchmark overnight interest rate, a level his colleagues projected in December was likely to be in the 5.00%-5.25% range. The U.S. central bank
last week raised that rate by a quarter of a percentage point to the 4.50%-4.75% range.
New projections will be issued at the end of the Fed's
March 21-22 policy meeting.
(Reporting by Howard Schneider; Editing by Paul Simao)
