Fed's Barr: Further Hikes Likely Needed To Ensure ‘Timely Return’ To Inflation Target

Risks To Achieving Inflation Target Have Increased, Seen Risks To Labour Market Recede - Going Into September Meeting, Fed Needed To Recalibrate MonPol To Reflect Risks; Fed Was Out Of Position, Made An Adjustment In Right Direction - Inflation Is Not Clearly Trending Toward Target In A Timely Way - Economic Growth Is Strong, Labour Market Is Solid