Fed's Barkin says economic “fog” lifting, inflation miss still demands caution.Richmond Fed President Tom Barkin said the economic environment is becoming clearer as the US moves into 2026, after what he described as an overwhelming pace of change last year. Speaking today, Barkin likened 2025 to “driving in a dense fog,” citing geopolitical tensions, rapid advances in artificial intelligence, and sweeping government policy shifts spanning tariffs, immigration, taxes, deregulation, and fiscal spending.