Federal Reserve Watch for Feb. 3: Barkin Says US Economy Still Resilient

02:48 PM EST, 02/03/2026 (MT Newswires) -- Richmond Fed President Tom Barkin (nonvoter) said that the US economy remains resilient, with last year's rate cuts supporting the labor market, but added that the FOMC is ready to respond if conditions deteriorate.

Recent comments of note:

(Feb. 2) Atlanta Fed President Raphael Bostic (nonvoter) said that there is time to be patient when making rate decisions, adding that he does not see the current monetary policy stance as overly restrictive but rather only 1-2 cuts above neutral. He noted that data over the next few months will remain volatile due to the government shutdown.

(Jan. 30) Fed Vice Chair for Supervision Michelle Bowman (voter) said that she agreed to hold rates steady at the January FOMC meeting, noting that it would be beneficial to see the additional data available before the March meeting before reducing rates again. However, she repeated her latest expectation of up to three rate reductions in 2026 and her belief that deterioration in the labor market is a bigger concern than slightly higher inflation.

(Jan. 30) Fed Governor Christopher Waller (voter) said that he dissented in favor of a 25-basis point rate cut at the January FOMC meeting because he believes the current stance of policy is still restrictive given the ongoing weakness in the labor market and an inflation rate that is near the 2% goal when temporary tariffs impacts are removed.

(Jan. 30) US President Donald Trump announced that he is nominating former Fed Governor Kevin Warsh to replace Jerome Powell as Fed Chair when Powell's term ends in May.

(Jan. 30) St. Louis Fed President Alberto Musalem (nonvoter) said that he supported the decision to maintain the current policy rate at the January FOMC meeting, citing above target inflation and evenly balanced outlook.

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