FED'S BARKIN: FED NEEDS TO ACHIEVE 2% TARGET TO ENSURE ITS CREDIBILITY

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Federal Reserve Bank of Richmond President Thomas Barkin said on Tuesday that the Fed needs to achieve the 2% inflation target to ensure its credibilitiy, per Reuters.

Commenting on the economic outlook, Barkin noted that if the US were to have a recession, it would likely be a "less-severe" one. He further added that they try not to focus too much on short-term market moves


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