Barkin Warns Inflation Pressures May Persist After Rate Hike

Federal Reserve Bank of Richmond President Tom Barkin has warned that inflationary shocks may take time to pass, and there's a risk they could become entrenched. In a speech on September 22, 2026, Barkin said last week's interest rate hike by the central bank will help slow down inflation.

Barkin made it clear in his latest outlook for the economy and monetary policy that supply shocks are no longer temporary, leaving persistent price pressures across the economy. He stopped short of signaling whether additional tightening is needed.