---
title: "Federal Reserve officials speak intensively: Still haven't seen the full effect of rate hikes, US economy expected to slow down."
type: "News"
locale: "zh-CN"
url: "https://longbridge.com/zh-CN/news/102121857.md"
description: "Several Federal Reserve officials have once again made speeches. Two officials explicitly stated that they have not yet seen the full effects of the Fed's interest rate hikes, indicating that they expect the US economy to slow down in the future. Whether they are hawkish or dovish officials, most of them have not explicitly stated whether they expect further interest rate hikes in the future. Fed Governor Bowman reiterated his hawkish stance earlier this week, stating that it is necessary to continue raising interest rates. Atlanta Fed President suggested that monetary policy may already be sufficiently restrictive, implying that interest rate hikes are complete."
datetime: "2023-11-09T22:22:06.000Z"
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  - [zh-CN](https://longbridge.com/zh-CN/news/102121857.md)
  - [en](https://longbridge.com/en/news/102121857.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/102121857.md)
---

> 支持的语言: [English](https://longbridge.com/en/news/102121857.md) | [繁體中文](https://longbridge.com/zh-HK/news/102121857.md)


# Federal Reserve officials speak intensively: Still haven't seen the full effect of rate hikes, US economy expected to slow down.

On Thursday, a number of senior Fed officials spoke again. The two officials made it clear that they still did not see the full effect of the Fed's interest rate hike, which means they expect the US economy to slow down in the future. Whether hawkish or dove officials, most have not made it clear whether they expect to raise interest rates in the future. Fed Governor Bowman reiterated his hawkish position earlier this week and expected it to continue to raise interest rates. The chairman of the Atlanta Fed predicted that monetary policy may have been restrictive enough to suggest that the interest rate hike is completed. ## Richmond Fed President: Still not seeing the full effect of rate hikes The hawkish Richmond Fed President Tom Barkin said \*\*overall, still not seeing the full effect of successive rate hikes in this cycle. \*\*" I have to believe that the net impact of all this tightening will eventually hit the U.S. economy harder than it has been in the past. I think there will be more lags." Barkin said it remains to be seen whether \*\*the Fed will need to continue raising interest rates. \*\*Although the United States has made progress in fighting high inflation, inflation is still too high. Inflation is moving in the right direction, but further progress will be bumpy. If the Fed does not do enough to correct high prices, I am afraid that high inflation will resume. Barkin also said there was no reason to adjust the Fed's 2 percent inflation target. He believes that there is room for further contraction in the Fed. Barkin believes that the latest US GDP data for the third quarter is not consistent with the real economy, and the real economy is not full of vitality. The U.S. economy is expected to slow down and needs to slow down in order to convince the Fed that inflation can be reduced. For U.S. bond yields, which have been making headlines recently, Barkin points out that \*\*U.S. bond yields are not a good guide to what kind of interest rate policy to adopt, and that such rates can move significantly in a relatively short period of time. \*\*He won't ignore bond market rates, but tries to take a fuller look at financial conditions. ## Atlanta Fed President: Monetary policy may be restrictive enough The Atlanta Fed President Bostic agrees with Barkin that he hasn't seen the full effect of a U.S. rate hike so far. He said that **the Fed's monetary policy may have been restrictive enough,** but it is expected to be bumpy along the way. Bostic said the Fed will maintain policy restrictions until U.S. inflation falls back to 2 percent, or until it is confident that U.S. inflation can fall back to 2 percent. Inflation will eventually fall back to 2%. ## Fed Governor Bowman: Reiterating the need to continue to raise interest rates After a hawkish speech earlier this week, Fed Governor Bowman reiterated that \*\*the Fed is expected to continue to raise interest rates. She said she is paying attention to U.S. bond yields and financial conditions, and is paying close attention to liquidity and the function of the U.S. Treasury market. \*\*Wall Street News website recently pointed out, the real" black swan "of U.S. debt from the market liquidity, if the funds from the U.S. debt back to the Fed reverse repo superimposed on the Fed QT, liquidity will be quickly drained, the market demand for risk and safe assets will decline sharply. The future of the storm, only the central bank to take action. ## St. Louis Fed interim president: don't want to rule out further rate hikes, St. Louis Fed interim president Kathleen Paese said she supports the Fed's decision to suspend rate hikes at two consecutive meetings, **but the Fed may need to continue tightening monetary policy if needed**, and she doesn't want to rule out further rate hikes. Paese said it was important to stick to the 2% inflation target. The Fed is expected to keep policy rates high for some time. ## Powell: Cautious, no confidence that policy tightening is enough on the same day, Fed Chairman Powell also spoke. He said that there is no confidence that policy tightening is enough to allow inflation to fall to 2%, reiterating caution, but if appropriate, the Fed will not hesitate to raise interest rates. After Powell's speech, U.S. stocks fell wider, with the Nasdaq down 1%. "The New Fed News Agency said Powell was cautious about continuing to raise interest rates or announcing the end of them. His speech offered little more reason to raise interest rates again, but he added that "we are not confident" that policy has been tightened enough to bring down inflation.

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