Fed's Barkin: Long-term rates may not fall as much as once hoped

Fed's Barkin said there is a growing recognition that long-term interest rates may not fall as sharply as once hoped. Uncertainty in financial markets appears to have declined, with market forecasts for the policy path consistent with the Fed's median expectations, and some potential upside risks to inflation. The story of 2025 will focus less on monetary policy and more on economic fundamentals, and perhaps geopolitics. (Jinshi)