Fed regional president Barkin said whether current policy rates are sufficiently
restrictive to curb inf remains an "open question" and he is unsure he would
have voted for this week's hike like three other regional presidents. He said
there is a case for tightening to reverse part of last year's rate cuts, but
June's slower inf gives time before the next meeting to assess the policy
stance. Barkin is not a voting member on rate decisions until next year. He
expressed doubt that the labor market is notably tight and said uneven price
pass-through makes it hard to gauge residual inf.
