Federal Reserve's Barkin: Internally, "a lot of people" see current interest rate level as tight enough to temper inflation

August 13th - In a speech on the economic outlook, 2027 FOMC voter and Richmond Fed President Barkin did not explicitly indicate whether he believed a rate hike was necessary. However, he noted that "many" at the Fed see the current rate level as tight enough to contain inflation.

Barkin also stated that there were reasons to believe that price pressures had become entrenched and that it might be necessary to achieve the Fed's goals through a softening of demand or rate hikes.