By 
Reuters
Fed’s Barkin says interest rates should be moved rapidly to neutral
“How far we will need to raise rates, in fact, won’t be clear until we get closer to our destination, but rest assured we will do what we must to address this recent bout of above-target inflation,” Barkin said in remarks prepared for delivery to the Money Marketeers in New York. The Fed, which aims for 2% inflation, last month raised interest rates from near zero to begin to deal with what it sees as largely pandemic-induced inflation. Policymakers have signaled they may accelerate the pace of rate hikes and begin to rapidly reduce the Fed’s balance sheet — bloated by its purchases of bonds — to deal a more decisive blow to inflation.
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