Fed's Barkin
- I have a hard time declaring 'sufficiently restrictive' at any point in time
- Long-term rates have loosened but I don't think of them as a policy variable or equate them to rate hikes
- A return to elevated inflation would mean we need to look hard if we need to do more
- Core issue on whether another rate hike is needed is inflation
- I anticipate more disinflation on goods
I wonder if Powell tries to push a bit harder today to keep a Dec or Jan rate hike in play. Odds continue to be very low.
