The WSJ reports that Richmond Fed President Thomas Barkin stated on Friday that, in his view, the Fed needs to move toward normalization, adding that a rate hike in March would be
"certainly conceivable".
Commenting on the Fed's December policy decisions, he noted that he is "very supportive" of what the policymakers did in December.
Regarding inflation, Barkin said that he expects the inflation pressures to ease later in the year, but noted that supply chain issues may persist into 2023, adding uncertainty to the outlook. Meanwhile, the U.S. labour market, in his opinion, is "as tight as it could be" at this point.