Federal Reserve Governor Michael Barr said Tuesday that he’s prepared to support an interest rate hike if inflation doesn’t begin to ease.
His remarks come as inflation remains high and after Treasury yields rose again amid rising tensions in the Middle East. Barr is a voting member on the rate-setting Federal Open Market Committee.
High inflation directly impacts affordability and as Mayor Zohran Mamdani works to invigorate the city’s economy and fulfill his campaign promise of affordability, he recently announced the creation of his Business Advisory Council, comprised of 15 leaders across several industries and tasked with recommending how best to strengthen the New York’s economy.
Scott Rechler, CEO and chairman of the real estate investment firm RXR, as well as a member of the new mayoral council, joined “The Rush Hour” on Tuesday to talk about interest rates and the new council.
Tap the video player above to watch the interview.