Federal Reserve Bank of Richmond President Tom Barkin noted Tuesday that the bond market is increasingly signaling recession risks.
Speaking at the Council on Foreign Relations, Barkin emphasized the prevailing uncertainty in the economy, stating, "We are all driving in the fog." He highlighted that while current data appears stable, the ambiguity surrounding future policies, especially regarding tariffs and trade, complicates economic forecasting.
Moreover, Barkin also expressed concern over the potential inflationary impact of new tariffs introduced by President Donald Trump.
