Richmond Fed's Barkin questions if the Fed should continue to 'look through' supply shocks

Richmond Fed President Tom Barkin questioned the Fed's ability to 'look through' supply shocks, emphasizing the need to assess business and consumer responses to inflation. He noted potential risks from geopolitical tensions and other factors affecting supply chains. While long-term inflation expectations remain stable, Barkin cautioned against complacency. He supports the Fed's current rate policy, suggesting that future economic pressures may require appropriate responses.