Fed Governor Michael Barr says rate hikes may be needed if inflation stays high

INSIGHT: Federal Reserve Governor Michael Barr says it may be time to raise interest rates if inflation does not begin slowing soon.
The comments reinforce the possibility that the Fed could return to tightening if price pressures remain persistent despite softer areas of the economy.
For markets, renewed rate-hike risk would imply tighter financial conditions and higher-for-longer borrowing costs.