[Fed's Barkin: Rate Hike Direction Clear, AI Risks Require Caution in Policy Pace] BlockBeats reports that on November 10th, Richmond Federal Reserve President Tom Barkin, speaking in South Carolina, signaled that interest rates still need to be raised, while emphasizing the need for a cautious pace of increases. He addressed the Grand Greer Chamber of Commerce that day and will become a voting member of the Federal Open Market Committee in 2027. Barkin stated that inflation is nearing its six-year high above the Fed's 2% target, and the risks to the current dual mandate are primarily concentrated on the inflation side. Corporate profits are strong, consumer spending continues, and the unemployment rate has remained at or below 4.5% for a record period. He expects consumer spending to remain resilient until the end of the year, with the market widely anticipating a strong holiday season, but how long this strong momentum can be sustained remains a question. Barkin also focused on the potential demand shifts brought about by the AI boom. He believes that if technology underperforms expectations, corporate investment may contract, stock prices may fall, and consumption, which relies on asset appreciation, may also decline.