Fed’s Barkin wants more evidence on inflation before rate cuts

Thomas Barkin, President of the Federal Reserve Bank of Richmond stressed the need for further clarity on the inflation path before considering lowering interest rates.

Barkin, a voting member of the Federal Open Market Committee this year, believes that the current monetary policy is well-positioned and that the central bank has sufficient firepower to fight inflation. “At this moment it feels like if you made a cut, you made a cut, and then let’s see where the data takes you,” Barkin continued.

Specifically, Kugler said she believes that the current monetary policy is"sufficiently restrictive" to reduce price pressures without significantly harming the job market.

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