Federal Reserve Board member states that maintaining interest rates unchanged is a wise move amid increasing uncertainty

Golden Finance reports that on March 27, Federal Reserve Board Member Michael Barr stated that the complexity of the Middle East conflict and other factors making it difficult to push inflation toward the 2% target allows policymakers to keep interest rates steady. Barr emphasized that the impact of tariffs on inflation may persist beyond this year; he also pointed out that non-housing services inflation and core inflation are both high. “Given the potential significant uncertainty that developments in the Middle East could pose to our economy, and other factors I mentioned earlier, it is wise to take some time to assess the situation,” Barr said during a speech at the Brookings Institution in Washington on Thursday. “Our current policy stance puts us in a good position to maintain policy while evaluating new data, economic outlook, and risk balance.” (Zhitong Finance)