Fed's Barkin is speaking again:
- Fed will do what it takes to reduce inflation on path to return it to normal levels
- There is recesion risk, worth remembering most aren't long or deep
- We could moderate demand without entering technical definition of recession
- Fed has credibility with households, businesses and markets
- We may or may not get help from a global event and supply chains
- I see rising interest rates stabilizing any drift in inflation expectations, increasing real interest rates and quieting demand
- inflation should come down over time, but it will take some time
