{"id":10943,"date":"2023-11-30T19:00:49","date_gmt":"2023-11-30T19:00:49","guid":{"rendered":"https:\/\/connectwithfund.com\/economy\/feds-barkin-says-he-sees-inflation-being-stubborn-makes-case-for-keeping-rates-higher-for-longer\/"},"modified":"2023-11-30T19:00:50","modified_gmt":"2023-11-30T19:00:50","slug":"feds-barkin-says-he-sees-inflation-being-stubborn-makes-case-for-keeping-rates-higher-for-longer","status":"publish","type":"post","link":"https:\/\/connectwithfund.com\/?p=10943","title":{"rendered":"Fed\u2019s Barkin says he sees inflation \u2018being stubborn,\u2019 makes case for keeping rates \u2018higher for longer\u2019"},"content":{"rendered":"<div id=\"js-article__body\" itemprop=\"articleBody\" data-sbid=\"WP-MKTW-0002746118\" role=\"document\">\n<p>Richmond Federal Reserve Bank President Tom Barkin said Monday that inflation has come down nicely, but some businesses are planning to keep raising prices \u2014 and that means the Fed should hold rates at relatively high levels for a long time.<\/p>\n<p>\u201cI see inflation being stubborn, and that makes the case for me being higher for longer,\u201d Barkin said in an interview with Fox Business, referring to the level of interest rates.<\/p>\n<div class=\"paywall\">\n<p>Financial markets now expect that the Fed will quickly cut rates by 100 basis points next year beginning in May.<\/p>\n<p><strong>Read:<\/strong> Experts react to talk of quick Fed rate cuts<\/p>\n<p>Asked why the market was not believing the Fed, Barkin said the market and the Fed have often been at odds in the post-pandemic economy. It comes down to different forecasts for the economy, he said. <\/p>\n<p>Markets can be more optimistic about inflation or more pessimistic about the outlook for growth. That leads to a different path for interest rates, he said.<\/p>\n<p>Barkin, who is a voting member of the Fed\u2019s interest-rate committee this year, declined to elaborate on where he sees interest rates going in coming months.<\/p>\n<p>\u201cI don\u2019t think this is a big time for forward guidance on rates,\u201d Barkin said. <\/p>\n<p>Future moves of inflation are the key data points to watch, he added. \u201cI\u2019m reacting to inflation,\u201d he said. \u201cIf inflation ticks up, that makes the case to do more. And if inflation comes naturally, then it doesn\u2019t.\u201d<\/p>\n<p>Barkin said many business executives tell him they are still pushing up prices in increments \u201chigher than pre-COVID levels.\u201d<\/p>\n<p>\u201cI am still looking to convinced that price setters have gotten back to where they were three or four years ago, which was an understanding that above-normal price increases just weren\u2019t a management lever,\u201d he said. <\/p>\n<p>Barkin wouldn\u2019t define what he meant by the level of interest rates being \u201chigher for longer.\u201d \u201cIt depends how the economy evolves,\u201d he said. <\/p>\n<p>Asked about the outlook for growth, Barkin said he expected real GDP growth to normalize after a robust 4.9% growth rate in the third quarter.<\/p>\n<p>Stocks<br \/>\n        DJIA<\/p>\n<p>        SPX<br \/>\n       were higher in early-afternoon trading Monday. The yield on the 10-year Treasury note<br \/>\n        BX:TMUBMUSD10Y<br \/>\n       rose to 4.46%.<\/p>\n<\/p><\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.marketwatch.com\/story\/feds-barkin-says-he-sees-inflation-being-stubborn-makes-case-for-keeping-rates-higher-for-longer-bbb17718?mod=economy-politics\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Richmond Federal Reserve Bank President Tom Barkin said Monday that inflation has come down nicely, but some businesses are planning to keep raising prices \u2014 and that means the Fed should hold rates at relatively high levels for a long time. \u201cI see inflation being stubborn, and that makes the case for me being higher for longer,\u201d Barkin said in an interview with Fox Business, referring to the level of interest rates. Financial markets now expect that the Fed will quickly cut rates by 100 basis points next year beginning in May. Read: Experts react to talk of quick Fed<\/p>\n","protected":false},"author":1,"featured_media":322,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[38],"tags":[],"class_list":["post-10943","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Fed\u2019s Barkin says he sees inflation \u2018being stubborn,\u2019 makes case for keeping rates \u2018higher for longer\u2019 | ConnectWithFund<\/title>\n<meta name=\"description\" content=\"Richmond Federal Reserve Bank President Tom Barkin said Monday that inflation has come down nicely, but some businesses are planning to keep raising\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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