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- Fed's Barkin: Beginning rate hikes is a “straightforward call”, pace of tightening remains uncertain
Fed's Barkin: Beginning rate hikes is a “straightforward call”, pace of tightening remains uncertain
Richmond Fed President Thomas Barkin said on Thursday that beginning interest rate hikes is a "straightforward call", although the ultimate level and pace of rate increases remains uncertain. Barkin continued that he sees no need to "restrain" the economy right now. Pandemic effects are still making it hard to anticipate labour market improvements, supply chains and the path of inflation, he added. The quest for the Fed right now, he continued, is to get policy "into a better position" should high inflation persist. Barkin said that he would like to get the Fed funds rate back to its pre-pandemic levels in the 1.5-1.75% area before assessing if it should be moved to a clearly "restrictive" level.
Market Reaction
Currency markets do not appear to have reacted much to the latest comments from Fed's Barkin.
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