Fed's Barkin: Economy no longer in need of aggressive Fed support

Joel Frank Independent Analyst

Richmond Fed President and FOMC member Thomas Barkin said on Monday that the US economy is no longer in need of aggressive Fed support, and that supply chains, the virus and now the war, are all still impacting inflation, reported Bloomberg. Interest rates are still far below the rate level that constrains the economy and we can move at a 50bps clip again to tame inflation, he added. Inflation expectations seem to have remained stable, Barkin added.

Market Reaction

There was no reaction to Barkin's words, with investors instead focused on upcoming remarks from Fed Chair Jerome Powell.

Author

Joel Frank

Independent Analyst

Joel Frank is an economics graduate from the University of Birmingham and has worked as a full-time financial market analyst since 2018, specialising in the coverage of how developments in the global economy impact financial asset

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