Fed’s Barkin says CPI ran too hot, keeps October decision open
Richmond Federal Reserve (Fed) President Thomas Barkin, a voter in 2027, said Wednesday that he doesn’t see AI job losses happening at scale, adding that investment is mostly focused on AI.
Richmond Federal Reserve President Thomas Barkin stated on Wednesday that he believes the October Federal Open Market Committee (FOMC) meeting outcome is uncertain, acknowledging that the Consumer Price Index (CPI) data exceeded his expectations. He emphasized that investment in artificial intelligence (AI) is the primary focus of the economy, and he refrained from projecting FOMC meeting results. The Producer Price Index (PPI) report will aid him in refining his inflation outlook.
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