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Barkin: Will Do What It Takes To Lower Inflation

FED
  • Little new from Richmond Fed’s Barkin (’24 voter) in the main body of his appearance in Maryland although there could be more targeted questions in the subsequent media Q&A ahead.
  • Fed Funds implied hikes broadly holding at early AM levels with 63bp priced for Sep, 120bp to year-end and 135bp to a terminal 3.69% at the Mar’23 FOMC.
  • Bloomberg headlines below:

*BARKIN: FED WILL DO WHAT IT TAKES TO LOWER INFLATION TO 2%, FED IS `VERY SERIOUSLY' FOCUSED ON INFLATION

*BARKIN: THERE IS A RISK OF RECESSION ON PATH TO 2% INFLATION

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  • Little new from Richmond Fed’s Barkin (’24 voter) in the main body of his appearance in Maryland although there could be more targeted questions in the subsequent media Q&A ahead.
  • Fed Funds implied hikes broadly holding at early AM levels with 63bp priced for Sep, 120bp to year-end and 135bp to a terminal 3.69% at the Mar’23 FOMC.
  • Bloomberg headlines below:

*BARKIN: FED WILL DO WHAT IT TAKES TO LOWER INFLATION TO 2%, FED IS `VERY SERIOUSLY' FOCUSED ON INFLATION

*BARKIN: THERE IS A RISK OF RECESSION ON PATH TO 2% INFLATION

Keep reading...Show less