Fed's Barkin: Rate Hikes 'Straightforward' Amid High Inflation, Pace Key

Richmond Federal Reserve President Tom Barkin stated Friday that with high inflation and robust demand, the US central bank's direction for monetary policy is "straightforward" towards further rate increases. He emphasized that businesses are passing on rising costs, and the Fed is expected to continue hiking borrowing costs, possibly as soon as December. While the Fed held rates steady this week, Barkin's comments reinforce expectations of a tightening cycle. Stronger US dollar due to anticipated rate hikes could pressure international gold prices and indirectly influence USD/PKR.

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