Fed's Barr Says He Expects GDP Growth To 'Pick Up A Bit' In Second Half Of Year, From 2% Pace In First Half; Risks To Achieving Inflation Target Have Increased, Risks To Labor Market Have Receded; There Is A Need To Recalibrate Policy; Base Case Is That Further Policy Adjustments Likely To Be Needed; Labor Market Solid, Supported By Business Investment And Consumer Spending