Federal Reserve Bank of Richmond President Thomas Barkin said he needs further clarity on the path of inflation before lowering interest rates. “My personal view is let’s get more conviction before moving,” Barkin said to reporters Thursday following an event in Richmond, reiterating that he needs sustained and broadening progress toward the Fed’s 2% goal before adjusting borrowing costs lower. Barkin, who is a voting member of the Federal Open Market Committee this year, said policy is currently well positioned, adding the central bank has the firepower necessary to tame inflation. When asked if the Fed could do one ... (full story)