As the Federal Reserve battles rapid inflation, officials are likely to stay on an aggressive path even as signs of economic cooling emerge.
The Federal Reserve chair spoke at a conference in Sintra, Portugal, alongside other global economic leaders.
The central bank has hoped to cool down the economy without pushing unemployment much higher. Stubborn inflation narrows that path.
The Consumer Price Index picked up by 8.6 percent, as price increases climbed at the fastest pace in more than 40 years.
The strong job market may be about to take a turn for the worse. That could come to haunt those who made choices based on today’s conditions.
The central bank has made few strides in hiring a more racially diverse staff of economics doctorates. Entry-level jobs are a different story.
Central bankers have been asking whether they should have reacted faster to rising inflation last year — and are learning from the recent past.
Critics have accused the Federal Reserve of not reacting quickly enough to tame rising prices. On Friday, a Fed governor explained why it took so long.
Mr. Barr faced pushback from progressives when his name was floated for a different position.
Gasoline weighed heavily in the increases, while prices moderated in several categories. Some economists say the overall rate may have peaked.