A Fed President Expects More Hikes. Thursday Did Not Raise Your Rate.

Richmond Fed President Thomas Barkin said on Thursday, November 5, 2026, that he expects the Federal Reserve to raise interest rates further, but gradually. He told CNBC that unemployment is near lows, inflation is too high, and a gradual pace makes sense because the outlook is uncertain. He called inflation the most important risk and said artificial intelligence is adding to prices now, even if it could raise production later.

Barkin does not vote on rates in 2026. The Fed's target range remains 3.75% to 4% after October's hold; Thursday was an interview, not a meeting. CNBC said markets were pricing a better than 80% chance of a December increase and another move in 2027. Those are probabilities, not a decision. He also said debt issuance tied to large technology builders, estimated at more than $500 billion this year, is worth watching. That is a credit caution, not a missed household payment.

Did Barkin's remarks change a fixed loan payment on Thursday? No change to the Fed's target or to an existing fixed payment was announced. He described a possible gradual path for later decisions.