Federal Reserve to move interest rates up 'steadily': Barkin

[BENGALURU] Richmond Federal Reserve Bank President Tom Barkin on Thursday said he expects the Fed to move interest rates up "steadily" towards neutral and wants to bring interest rates back to pre-pandemic levels "relatively soon."

"I do think it's time to start normalising policy," Barkin said at a virtual meeting at the Stanford Institute for Economic Policy Research, adding that as far as the pace and scope of raising rates and reducing the Fed's balance sheet, policymaker decisions will depend on the economic data. REUTERS