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Barkin: Won’t Take Another Hike Off The Table

FED
  • Speaking at the CNBC CFO Council Summit, Richmond Fed’s Barkin (’24 voter) says today’s revised consumer spending data is more consistent with what he’s hearing on the ground, having previously noted discrepancies between very strong official data vs liaison findings in Richmond.
  • However, he is skeptical for being on track for 2% inflation and won’t take another rate hike off the table.
  • He adds that market bets on four rate cuts next year might be based on expectations for a soft landing, and he hopes they are right.

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