Fed's Barkin (2027 voter) says that no single meeting is decisive and that errors can be corrected at the next meeting

• Not seeing a strong business push to pass on price hikes.
• CPI data was encouraging.
• Shelter inflation is still biased due to missing October data.
• Businesses are more confident about tariff outcomes now than last April.
• Tariffs still create some cost and inflation pressure over time, but the timing is unclear.

Barkin's comments suggest a balanced approach from the Fed, indicating that while recent data is encouraging, he recognizes the uncertainty surrounding inflation, particularly due to incomplete shelter data. His remarks on correcting errors in upcoming meetings signal that the Fed remains flexible in its policy, which may imply that market participants should not overreact to any single meeting’s outcomes. This stance could moderate expectations for aggressive rate hikes and impact the USD's strength in forex markets.