Fed's Barkin says rate increases need to continue until inflation holds at 2%
VIDEO 3:51 03:51 We'll have to continue raising rates unless there's a period of sustained inflation under control, says Fed's Barkin Squawk on the Street Despite positive inflation data this week, Richmond Federal Reserve President Thomas Barkin said Friday that more interest rate increases will be needed to tamp down price pressures . Releases this week showing that consumer and wholesale price increases softened in July were "very welcome," Barkin told CNBC's "Squawk on the Street" in a live interview. "So we're happy to see inflation start to move down," he added. But he noted that, "I'd like to see a period of sustained inflation under control, and until we do that I think we're just going to have to continue to move rates into restrictive territory." Headline consumer prices were flat in July while producer prices declined 0.5%, according to the Bureau of Labor Statistics. However, that was just one-mont...