The Fed: Fed’s Barkin says he sees inflation ‘being stubborn,’ makes case for keeping rates ‘higher for longer’

Richmond Federal Reserve Bank President Tom Barkin said Monday that inflation has come down nicely, but some businesses are planning to keep raising prices — and that means the Fed should hold rates at relatively high levels for a long time.

“I see inflation being stubborn, and that makes the case for me being higher for longer,” Barkin said in an interview with Fox Business, referring to the level of interest rates.

Financial…