(Reuters) – The U.S. Federal Reserve’s commitment to raising interest rates in order to bring inflation back down to its 2% goal will not necessarily result in a severe economic downturn and brings some benefits, Richmond Fed President Thomas Barkin said on Tuesday.
“A recession is obviously a risk,” Barkin said during an event at the Huntington Regional Chamber of Commerce in West Virginia. “It doesn’t have to be like a 2008 recession. It doesn’t need to be calamitous, we’re out of balance today…returning to normal might actually mean products on shelves, cars on lots and restaurants fully staffed.”
Source: Economy - investing.com
