Federal Reserve Governor Michael Barr said interest-rate increases may be necessary if inflation does not slow sufficiently, although he would prefer to keep borrowing costs at current levels if price pressures continue easing. Barr described the US economy as showing solid growth and the labor market as stable, but said inflation remains too high and persistent above-target price pressures are a key risk. He also said investment in artificial intelligence is supporting economic growth. Walter Bloomberg reported Barr’s comments on September 1.