Fed exec: Too soon to talk about another rate hike

Fed exec: Too soon to talk about another rate hike
WHAT: Federal Reserve Bank of Richmond President Thomas Barkin isn’t yet ready to place his bets on the Federal Reserve’s next policy move! Speaking during an interview on Bloomberg TV, Barkin said it was “too early” to consider the prospect of another interest rate hike. “I think there are a wide variety of possible outcomes facing the economy and because of that…it’s good for the Fed to take some time and see how the data plays out” Barkin said.

WHY: The Fed has in recent months pivoted to a slower pace of increases after a historically rapid tightening that took the fed funds rate from nearly zero in March 2022, to 5% in May of this year.