Fed President Tom Barkin unsure if rates are high enough
Richmond Federal Reserve President Tom Barkin expressed uncertainty over whether current interest rates are sufficiently restrictive to bring inflation back to the 2% target.
The comments follow the Fed’s decision to leave interest rates unchanged, despite three committee members favoring an immediate hike.
Barkin also stated he was skeptical about the labor market strengthening meaningfully and noted price increases are moving unevenly through the economy.