Federal Reserve Bank of Richmond President Tom Barkin warned that inflation is too high, though he sees tentative signs that price pressures may moderate soon. “Those numbers are too high,” Barkin said Sunday in an interview with Bloomberg on the sidelines of the Aspen Ideas Festival in Aspen, Colorado. A report released Thursday showed the personal consumption expenditures index — the Fed’s preferred metric — rose 4.1% in the year through May, the most since April 2023. While the war in Iran drove up the price of oil and other goods, the increase in price pressures has been more widespread. “It’s hard to have ... (full story)