An October interest rate hike is very much on the table after a top Federal Reserve official Wednesday expressed support for one, and as fresh economic readings showed intensifying inflation pressures. In remarks prepared for a housing conference in Chicago, Fed Governor Michael Barr said he thinks policymakers still have more work to do even after last week's quarter percentage point increase. "In my base case, further policy adjustments are likely to be needed to ensure inflation comes down to target in a timely fashion," he said. "We want to support sustainable, durable growth in support of maximum employment, and price stability is crucial to that.
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