Barkin is a voting member in 2021

Richmond Fed Barkin

Another Fed voting member, Richmond Fed president Barkin is on the wires now. He says:

  • Feds forward guidance may not be as easy to understand as one the central bank was approaching inflation from below 2% target
  • Inflation has gone up faster than he expected due to the virus, vaccines and fiscal support
  • Long-term inflation expectations are always a concern
  • Important to have long-run inflation expectations stable at the Fed's target
  • He is supportive of normalizing monetary policy as the Fed is doing