President of the Federal Reserve Bank of Richmond Thomas Barkin said that the Federal Reserve should continue raising rates to normal levels amid sustained economic growth in the US, low unemployment and inflation in the region of 2%. Barkin noted that the level to which the base interest rate should be raised will depend on the rates of economic growth. He said: “The better the prospects for economic growth are, the higher the base rate will be”. The head of the Federal Reserve Bank of Richmond believes that the causes for concern are trade disputes, geopolitical instability and market volatility.
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