Richmond Fed President Thomas Barkin said recent rise in U.S. Treasury yields remains within reasonable range, not driven by inflation or deficits.
He noted debt auctions are successful despite higher supply and reduced buying from major holders like China, and inflation expectations unchanged.
Barkin expressed cautious optimism on employment but warned AI could cause future job losses, and he refrained from strong forward guidance.
He highlighted businesses’ reduced confidence in passing cost increases to consumers and mentioned a recent conversation with Fed nominee Kevin Warsh.