FINWIRES · TerminalLIVE
FINWIRES

Federal Reserve Watch for Aug. 13: Barkin Says Uncertain Whether Rate Hikes Will Be Needed to Lower Inflation, Hammack Wants Rate Hikes Now

By

Richmond Fed President Tom Barkin (nonvoter) said that uncertainty remains regarding the path of inflation and whether rate increases will be needed to bring it down to the 2% goal or if will slow on its own.

Cleveland Fed President Beth Hammack (voter) said that the FOMC should begin the process of raising interest rates now to bring down inflation, saying that recent softer price data have not convinced her that inflation is on a clear path downward.

Recent comments of note:

(Aug. 5) Fed Governor Lisa Cook (voter) cited reasons that inflation could slow but said that she could support a rate increase if it does not.

(Aug. 5) Minneapolis Fed President Neel Kashkari (voter) said in an interview with CNBC that he would prefer gradual rate increases sooner, perhaps as early as the September FOMC meeting, rather than be forced to raise rates rapidly later.

(Aug. 4) Philadelphia Fed President Anna Paulson (voter) said that she is "keeping an open mind" regarding the path of monetary policy and will allow incoming information to determine whether the current level of restrictiveness is appropriate to slow inflation or if more is required.

(Aug. 3) New York Fed President John Williams (voter) said in an interview with Reuters that monetary policy is appropriate to continue to put downward pressure on inflation, but it may be necessary to act if that is not the case.

Related Articles

International

New Zealand Annual Inflation Growth Expectations Fall, RBNZ Survey Shows

The Reserve Bank of New Zealand (RBNZ) said the respondents for its September quarter survey of expectations expect the country's annual consumer price index (CPI) growth to be 2.6% one-year-out and 2.34% two-years-out, data showed Thursday.The survey measures the expectations of forecasters, economists, and business leaders about the future of the New Zealand economy.The respondents had expected one-year-out CPI growth to be 3.41% and two-years-out growth to be 2.53% in the June quarter.The perception of monetary conditions was negative 63.16% at the end of the September quarter and flat in the December quarter. The measure was up nearly 16% one year out.

^NZ50
International

RICS: UK House Price Balance Edges Up in July

The UK Royal Institution of Chartered Surveyors house price balance stood at -30% in July, up from the revised -32% in the previous month, according to residential market survey data released Thursday.The reading signaled more price declines than increases in the housing sector.House price expectations for the next three months stayed weak, with the balance at -31%, while the 12-month outlook was optimistic at 4%.

FTSE 100
International

New Zealand Housing Market Prices Remain Flat in July, REINZ Says

New Zealand housing market prices remained steady in July, but the pace of activity has slowed due to cautious buyers, according to a report from the Real Estate Institute of New Zealand (REINZ) released on Thursday.The national median sale price of NZ$760,000 recorded a 0.7% year-on-year decline, while sales saw a 10% decrease compared with July 2025.Properties took longer to sell, with the national median Days to Sell at 50 days, an increase of two days year-on-year and the fifth-slowest July on record since REINZ records started in 1992.People are purchasing and selling property daily, but buyers are taking time considering their options, and sellers are sometimes allowing more time for the right buyer to come along, REINZ Chief Executive Lizzy Ryley said.Inventory increased, primarily due to properties taking longer to sell rather than an influx of new listings.

^NZ50