Barkin will be voting next year and that will be an interesting time for the FOMC as it wrestles with the impacts of high rates. For now, he’s non-committal on the upcoming meeting, saying that Fed policy is in restrictive territory but there is uncertainty around where rates need to go.
- Is seeing evidence that rates hikes are curbing demand
- There is more willingness among businesses to try to increase price and that will continue until demand falls