Other policymakers voiced similar concerns over persistent price pressures, with Minneapolis Fed President Neel Kashkari noting that inflation has broadened beyond oil shocks from the Iran war. Meanwhile, the 10 year Treasury yield has climbed above 5% for the first time in nearly three years, increasing pressure on equities. Officials such as Barkin and Collins indicated that risks to inflation currently outweigh risks to the labor market, supporting a more restrictive policy.
Wednesday, October 21, 2026
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16 of 18 Fed Officials Project More Rate Hikes in 2026
US Markets28 days ago
Fed Governor Michael Barr said the central bank will likely need to increase interest rates again to ensure inflation hits its long term goal. This signal follows a 25bp hike last week, an action Barr noted was necessary because the Fed had been "out of position" previously. Current projections show 16 of 18 officials expect at least one further rate increase in 2026, with four expecting two, to drive inflation toward the 2% target.
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