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MNI PODCAST: FedSpeak - Barkin Wants Hikes As Fast As Feasible

EXECUTIVE SUMMARY

  • Richmond Fed President Thomas Barkin tells MNI he would prefer not to pre-commit to raising interest rates by 50 basis points at every meeting: "You want to retain the optionality to make a decision at every meeting and with geopolitical risks being elevated."
  • Barkin did not rule out a 75 basis point rate increase if inflation expectations were becoming unanchored, which he does not currently believe to be the case: "Anything would be on the table. I'll just say our pace is pretty accelerated right now."
  • Asked about when the Fed should reduce the pace of easing or pause rate hikes, Barkin said "the time to reassess is when inflation starts to come down, or when underlying demand starts to come down."

Listen to the podcast here.

MNI Washington Bureau | +1 202 371 2121 | pedro.dacosta@marketnews.com
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MNI Washington Bureau | +1 202 371 2121 | pedro.dacosta@marketnews.com
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