Thomas Barkin, President of the Federal Reserve Bank of Richmond, stated on Tuesday that he is seeing evidence that interest rate hikes are curbing demand. He is attending a webinar organized by the National Association for Business Economics.

According to Barkin, there is more willingness among businesses to increase prices, but that will continue until there is a decline in demand. He points out that some parts of the economy appear to be cooling, while others remain “vibrant.” 

Market reaction

The US dollar is posting mixed results across the board on Tuesday, amid falling Treasury yields and risk aversion.