PRIMER - Today’s Fedspeak includes: Bowman, Cook, Barkin

13:15BST/08:15EDT: Fed’s Bowman (voter) will give remarks on bank supervision. The subject of her speech signals risks she could avoid remarks on monetary policy and the economic outlook. Speaking in mid-September, Bowman said Fed supervisors should have known about SVB’s vulnerabilities as early as March 2022, more than a year before the bank’s failure, with delays not attributable to earlier deregulatory efforts. She attributed inaction to a culture of risk aversion among supervisors, compounded by unclear decision rights, and said the Fed will finalize stress test reforms in the coming weeks to improve transparency and reduce capital requirement volatility. Going forward, the Fed will average a bank’s last two stress tests when assigning its stress capital buffer. 18:25BST/13:25EDT: Fed’s Cook (voter) will give remarks on emerging technologies. The subject of her speech signals risks she could avoid remarks on monetary policy and the economic outlook. Speaking after the August FOMC meeting, Cook said she is ready to support raising rates if necessary to bring down inflation. She said she is watching for signs of continued disinflation and is prepared to act if they do not materialise soon. 18:30BST/13:30EDT: Fed’s Barkin (2027 voter) will participate in a fireside chat. Speaking last week, Barkin said the Fed raised rates in September because risks to inflation outweigh those to maximum employment, adding the hike will help restore price stability though further increases remain uncertain. He said economic conditions are “if anything, firming,” with momentum evident beyond data centres and AI in consumer spending, defence and manufacturing. Barkin said the labour market is not overheated or particularly tight, and added that the Fed cannot assume markets will keep rates at levels needed to cool inflation.