Raphael Bostic, the president of the Federal Reserve Bank of Atlanta, is open to continuing to raise interest rates in the months to come if economic data clocks in stronger than expected. Bostic spoke with reporters on Thursday, acknowledging that he will update his policy trajectory if consumer spending is robust and labor markets remain…
Fed’s Barkin: Interest Rates Need to Get ‘Restrictive’
Richmond Federal Reserve Bank President Thomas Barkin on Friday said he wants to raise interest rates further to bring inflation under control, and will watch U.S. economic data to decide how big a rate hike to support at the Fed’s next meeting in September. “I’d like to see a period of sustained inflation under control,…
Fed Policymakers Split on Post-Pandemic Inflation Landscape
U.S. central bankers are split on whether high inflation will be a recurring problem in the future requiring repeated rate hikes, comments from two officials showed on Tuesday, a stark contrast to their broad consensus on the current policy path. Separate remarks from Federal Reserve Governor Lael Brainard and Richmond Fed President Thomas Barkin on…
Fed’s Barkin Says Rates Should Move to Pre-Pandemic Levels, Then Assess Next Steps
WASHINGTON—The U.S. Federal Reserve needs to begin raising interest rates but it is too soon to say how far or fast that process will need to go to bring inflation under control, Richmond Federal Reserve president Thomas Barkin said Thursday. He said it remained uncertain, given the ongoing pandemic and the tangled state of global…
Fed’s Barkin Says Pace of US Rate Hikes Depends on Inflation
How fast and far the U.S. Federal Reserve will raise interest rates once it begins doing so in March will depend on what happens with the economy and, more specifically, with inflation, Richmond Fed President Thomas Barkin said on Monday. “I’d like the Fed to get better positioned, and I think we’ve got a good…
The Roaring ’20s: Richmond Fed Bank President Expects Boom to Continue
The U.S. economy could go through a second edition of the Roaring Twenties, said Federal Reserve Bank of Richmond President and CEO Thomas Barkin in a recent speech. Speaking in front of the Virginia Bankers Association and Virginia Chamber 2022 Financial Forecast event, Barkin purported that U.S. households have seen a significant increase in net…
Fed’s Barkin Says Labor Supply Problems May Outlast Pandemic
WASHINGTON—U.S. labor shortages may outlast the coronavirus pandemic and limit overall economic growth unless the country comes up with better education, health, and childcare policies to boost the number of people willing and able to work, Richmond Federal Reserve President Thomas Barkin said on Tuesday. “As our workforce ages and birthrates decline, we could find…
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