The Fed's policy stance will likely not change until its Jackson Hole meeting in late August, leaving Treasury yields in a narrow trading range, analysts said.
The consumer price index jumped 0.6pc, the largest gain since August 2012, as increased vaccinations and massive fiscal stimulus unleashed pent-up demand.
For the next six months, Barkin said at the National Association for Business Economics annual meeting, he'll "look through" such jumps as he assesses the underlying trajectory of inflation, but will instead look at month-to-month changes.
