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2026-11-05 23:44:31
[Richmond Fed President: Rate Hikes Should Be Gradual] Richmond Fed President Barkin said on Thursday he supports a gradual pace of interest rate hikes, but did not signal how high rates ultimately need to rise. "If you think there's uncertainty in the world right now, and you think there will be new information to be gained in the meantime, then a gradual pace is reasonable," Barkin said at a conference in Charlotte, North Carolina. "I think that's still a reasonable pace for me." Barkin said inflation remains the biggest risk facing the Fed, but he hopes the Fed's decision to raise rates in September, and "any other actions we might choose to take in the future, will have some impact" on easing high price pressures. Barkin also said that rate hikes won't immediately affect oil prices, but over time, they could influence oil prices by cooling demand. Barkin stated, "I don't think the primary factor constraining or reducing AI investment will be interest rates. Investors have a lot of cash on their balance sheets. We are experiencing a potentially historic transformation, and people want to participate in it."
