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The Independent UK
The Independent UK
National
Via AP news wire

THE TRUTH ABOUT: Fed nominee michael barr calls inflation far too high | History Defined

Michael Barr Inflation Joe Biden US Federal Reserve Randal Quarles Elizabeth Warren Joe Manchin Sarah Bloom Raskin Treasury Department
Copyright 2018 The Associated Press. All rights reserved.

President Joe Biden's pick to be the Federal Reserve's top banking regulator pledged Thursday to help reduce high inflation and provide “clear rules” to govern financial innovation.

“I strongly believe that inflation is far too high today and I’m committed to bringing it down to the Federal Reserve’s target of 2%," Michael Barr told members of the Senate Banking Committee, which is considering his nomination.

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