Richmond Fed Barkin is speaking and said:
- interest rate path laid out this week by US central bank is a balance between fighting inflation and uncertainty around post pandemic economy
- Fed could move faster with half percentage point rate hikes if inflation expectations become on anchored, but so far that does not seem to be the case
- path outlined by Fed this week should not lead to economic decline, but represents a return to more normal conditions
- US inflation and employment still heavily influenced by pandemic effects. It will take time to understand post pandemic economy
His views are less extreme/hawkish versus Waller's thoughts this morning, although he is open to 50 bps (but not there yet).
