# Richmond Fed’s Tom Barkin Says Rates May Need to Rise Further By Riza Dagoc Canonical URL: https://www.tokenpost.com/news/regulation/53482 Published: 2026-11-11T02:12:22.000Z Updated: 2026-11-11T02:12:22.000Z Section: Regulation > He expects consumer spending to remain resilient through year-end but questioned how long that strength can last. Tom Barkin, president of the Federal Reserve Bank of Richmond, said U.S. demand and persistent inflation point to higher interest rates, while uncertainty about spending durability argues for care in the pace of policy changes. Barkin made the remarks to the Greater Greer Chamber in South Carolina. He expects consumer spending to stay resilient through year-end but questioned how long that strength will last. He described demand as healthy and inflation as stubbornly high. The Fed unanimously approved a 25-basis-point rate increase in September, lifting its target range to 3.75% to 4%. In October, the Federal Open Market Committee voted 10-2 to hold rates steady as officials sought more information to judge the appropriate policy level. Barkin is scheduled to become a voting member of the FOMC in 2027. His remarks build on his earlier view that [gradual rate increases remain reasonable](). ## Links in this article - [gradual rate increases remain reasonable](https://www.tokenpost.com/news/regulation/50382)