WASHINGTON, Nov 20 (Reuters) - Inflation is likely to remain "stubborn" and force the Federal Reserve to keep interest rates elevated for longer than investors anticipate, Richmond Federal Reserve president Thomas Barkin said.
"I see inflation being stubborn and that makes the case for me for being higher for longer," Barkin said in comments to Fox Business. In conversations with business contacts Barkin said that "half of them are telling me they're taking prices up at higher than pre-Covid levels."
(Reporting by Howard Schneider, Editing by Franklin Paul)
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