Fed’s Barkin Reportedly Backs Gradual Rate Hikes, Flags AI Investment Boom As Inflation Risk
Richmond Fed President Tom Barkin said a measured approach to monetary tightening makes sense as inflation remains elevated, unemployment stays low, and consumer demand holds up. Barkin said the Fed signaled a gradual approach at its September meeting, when it raised rates to a target range of 3.75%–4%. September PCE inflation rose to 3.6% annually, … Read more