[Federal Reserve Governor Barr: Inflation has not clearly and timely moved toward the 2% target] Federal Reserve Governor Michael Barr stated in prepared remarks that many factors are reducing the affordability of housing in the United States. He pointed out that inflation has not clearly and timely moved toward the 2% target, and the risks of achieving the inflation target have increased. Barr also noted that mortgage rates are currently at high levels, but if inflation decreases, rates will also decline accordingly.