Fed Fractures Deepen as Barr Signals Inflation Concern

Add one more to the number of Federal Reserve officials signaling fresh discomfort over inflation.

Fed Governor Michael Barr on Thursday said the US central bank needs to proceed with caution in considering additional interest-rate cuts.

“I am concerned that we’re seeing inflation still at around 3% and our target is 2%, and we’re committed to getting to that 2% target,” Barr said. “So we need to be careful and cautious now about monetary policy, because we want to make sure that we’re achieving both sides of our mandate.”

Federal Reserve Governor Michael Barr.

Photographer: Ore Huiying/Bloomberg

Barr stopped short of declaring his opposition to another rate ...