Fed's Barr says inflation is far too high

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Fed's Barr says inflation is far too high

<p>Michael Barr is Vice Chair for Supervision of the Board of Governors of the Federal Reserve System. As a member of the Board of Governors Barr has a permanent vote on the Federal Open Market Committee (FOMC). </p><p>His comments are wide-ranging but mainly not related to his outlook on the economy nor monetary policy. A few snippets though:</p><ul><li> Another priority is monitoring the risk of crypto-asset-related activities</li><li>Recent events in crypto markets have highlighted the risks to investors and consumers when new asset classes not accompanied by strong guardrails</li><li>As we have recently seen, many innovations also carry risks,  including <a href="https://www.forexlive.com/terms/l/liquidity/" target="_blank" id="633aaf0b-b4a1-40c5-8fbe-bf158af520a1_1" class="terms__main-term">liquidity</a> runs, the rapid collapse of asset values, misuse of customer funds, fraud, theft, manipulation, and money laundering</li><li>Us economic outlook has weakened amid tighter financial conditions, uncertainty</li><li>Crypto-asset-related activity, requires effective oversight that includes safeguards to ensure that crypto companies are subject to similar regulatory safeguards as other financial services providers</li><li>Recent events remind us of the potential for systemic risk if interlinkages develop between the crypto system that exists today and the traditional financial system</li><li>Fed is heightening focus on liquidity, credit, interest-rate risks</li><li><a href="https://www.forexlive.com/terms/i/inflation/" target="_blank" id="ad51a5a2-1afc-4f42-9e62-ea6faf6f90fa_1" class="terms__secondary-term">Inflation</a> far too high</li></ul>

                This article was written by Eamonn Sheridan at forexlive.com.

Source: Fed's Barr says inflation is far too high

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