Richmond Fed President and FOMC member Thomas Barkin said on Friday that the interest rate path set by the Fed this week is a balancing act between fighting inflation and managing uncertainty around the post-pandemic economic recovery, Reuters reported.
The Fed could move faster with half-point rate hikes if inflation expectations become unanchored, Barkin continued, though he noted that, so far, that doesn’t appear to be the case.
Barkin said the rate path set out this week should not lead to “economic decline” but instead represents a return to more normal conditions. US inflation and employment are still “heavily influenced” by the effects of the pandemic, Barkin said, and it will take time to understand the new post-pandemic economy.
Source: Fx Street
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