Federal Reserve Governor Thomas Barkin has said he expects inflation neither to accelerate in the near term nor to fall from its current level. Headline inflation stood at 3.7% year over year in September, up from 3.4% in August, and remains above the Federal Reserve’s 2% target. His comments therefore suggest there are no immediate grounds for monetary policy easing, while markets now reflect a moderate decrease in the likelihood of additional rate hikes in 2026. Upcoming inflation data, statements from other Fed officials and the next Federal Open Market Committee meeting should provide further clarity on the outlook for interest rates.
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