With mounting pressure from President Trump and investors to lower interest rates, all eyes are on the Federal Reserve’s upcoming decision later this month.

In this bonus episode of WSJ’s Take On the Week, co-host Gunjan Banerji is joined by Tom Barkin, president and CEO of the Federal Reserve Bank of Richmond, to discuss the future of monetary policy, inflation and tariffs, and why he’s in no rush to cut interest rates.

Plus, Barkin shares why he likens the current economic environment to “driving through fog,” the connection between consumer sentiment and spending, and how AI could reshape the job market. Finally, Barkin gives his take on whether investors should be expecting a recession any time soon.

This interview was recorded on June 26.

This is WSJ’s Take On the Week where co-hosts Gunjan Banerji, lead writer for Live Markets, and Telis Demos, Heard on the Street’s banking and money columnist, cut through the noise and dive into markets, the economy and finance—the big trades, key players and business news ahead.

Have an idea for a future guest or episode? How can we better help you take on the week? We’d love to hear from you. Email the show at takeontheweek@wsj.com.

To watch the video version of this episode, visit our WSJ Podcasts YouTube channel or the video page of WSJ.com

Further Reading

Trump Considers Naming Next Fed Chair Early in Bid to Undermine Powell

For more coverage of the markets and your investments, head to WSJ.com, WSJ’s Heard on The Street Column, and WSJ’s Live Markets blog.

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Why This Fed President Is in No Rush to Cut Interest Rates 26:22 Share

WSJ's Take On the Week

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Why This Fed President Is in No Rush to Cut Interest Rates