At 08:00 NY time (1200 GMT) on 5 August 2022, Federal Reserve Bank of Richmond President Thomas Barkin
- speaks before the Lexington Chamber of Commerce First Friday's Summer Speaker Series
-
I don't have a specific topic for his speech.
Barkin's most recent speech emphasized:
- At first, inflationary pressures seemed temporary. But inflation has persisted, risen and become broader based. It’s the Fed’s responsibility to act to reduce inflation and stabilize expectations, and we are.
- The Fed’s tools work over time, so I expect inflation to come down, but not immediately, not suddenly, and not predictably. I see inflation coming down in three lanes: demand should flatten, supply chains should heal and commodities should settle. The pace of normalization is uncertain, which is understandably unsettling and leads to worries about a recession.
