According to BlockBeats, Richmond Federal Reserve Chair, Barkin, stated on June 21 that the Federal Reserve needs to further clarify the path of inflation before it can cut interest rates. Barkin, who has voting rights on monetary policy this year, said the current policy positioning is good and added that the Federal Reserve has the strength needed to curb inflation.
When asked if the Federal Reserve could cut interest rates once and maintain them at that level, Barkin said it depends on economic data. If the current situation continues, now may not be the best time to provide guidance on the timeline for subsequent policy adjustments. 'Sometimes we want to provide forward-looking guidance and we do,' he said, 'In my view, it doesn't seem like that time now. It doesn't feel like the time to release forward-looking guidance. Let's see where the data will lead us.'