Fed's Barkin says inflation to fall back next year

March 25, 2021 3:54 PM EDT

FILE PHOTO: Federal Reserve Bank of Richmond President Thomas Barkin poses during a break at a Dallas Fed conference on technology in Dallas, Texas, U.S., May 23, 2019. REUTERS/Ann Saphir

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WASHINGTON (Reuters) - Richmond Federal Reserve Bank President Thomas Barkin on Thursday said he believes inflation will fall back next year after spiking this year.

"I think you will see a spike this year, I think the numbers are hard to doubt," Barkin told Fox Business Network. "And I do think you'll see a return closer to normal next year, and then we'll go from there. ... You're not going to see extended fiscal stimulus next year, you are not going to see these supply chain disruptions next year, and so some of the things that will be driving prices this year just won't be in the mix next year."

(Reporting by Ann Saphir; editing by Jonathan Oatis)

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