Richmond Fed's Thomas Barkin warns repeated supply shocks risk unanchoring inflation expectations, with PCE inflation at 3.5% after five years above target.

Federal Reserve meeting minutes reveal most officials consider rate hikes possible if inflation stays above the 2% PCE target, delaying hopes for cuts.

Federal Reserve officials including Collins, Goolsbee, and Powell warn of potential interest rate hikes if inflation stays above 2%, shifting the 2025 outlook.