Fed's Barkin (2027 voter) says Fed raised rates last week because risks to inflation outweigh risks to maximum employment

Last week's rate hike 'will help' restore price stability, 'we'll see' if more hikes are needed. Tempting to blame high inflation on ha andful of categories exposed to energy costs or tariffs, but much of the personal consumption expenditures index is climbing by more than 3% Economic conditions 'are, if anything, firming'. There is momentum outside data Centers and AI, with consumer spending holding up and strength in defense and manufacturing. 'Passing' shocks like tariffs and energy are not fading, there is a risk that high inflation today will impact future inflation