Fed’s Barkin: ‘Slow progress’ on inflation, sees more hikes

By CHRISTOPHER RUGABER
AP Economics Writer

WASHINGTON (AP) — A top Federal Reserve official is downplaying recent signs that the economy is strengthening, but also said he is prepared to keep raising interest rates in smaller increments as often as needed to quell inflation. Richmond Federal Reserve President Thomas Barkin said Friday that recent reports showing an unusually robust job gain and a spike in retail sales last month reflected in part the impact of warm weather and the government’s seasonal adjustment process, rather than an acceleration of growth that could push inflation higher.