Fed governor signals possible rate hike if inflation stays high

Federal Reserve Governor Michael Barr said Tuesday he is prepared to support an interest rate increase if inflation does not begin to ease.

Inflation remains high, while Treasury yields rose again amid heightened tensions in the Middle East. Barr is a voting member of the committee that sets U.S. interest rates.

The comments came as a newly formed 15-member business advisory council focused on strengthening a major city’s economy and improving affordability. Its members include real estate executive Scott Rechler, who discussed interest rates and the council in a television interview.

Read the full story at ny1.com.