Richmond Barkin: Fed can move faster w/ 50bp hikes if inf. expectations become unanchored

Richmond Fed Barkin is speaking and said:

• interest rate path laid out this week by US central bank is a balance between fighting inflation and uncertainty around post pandemic economy
• Fed could move faster with half percentage point rate hikes if inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term expectations become on anchored, but so far that does not seem to be the case
• path outlined by Fed this week should not lead to economic decline, but represents a return to more normal conditions
• US inflation and employment still heavily influenced by pandemic effects. It will take time to understand post pandemic economy

His views are less extreme/hawkish versus Waller's thoughts this morning, although he is open to 50 bps (but not there yet).