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Federal Reserve Bank of
Richmond President Thomas Barkin said on Tuesday that the U.S.
central bank still has time to decide on its next interest rate
move as anecdotal information points to an.
Federal Reserve Bank of Richmond President Thomas Barkin said on Tuesday that the U.S. central bank still has time to decide on its next interest rate move as anecdotal information points to an economy that’s slowing amid a cooling trend in inflation pressures. “I see an economy that is much further along the path to demand normalization than much of the data would tell you,” even as “the path for inflation isn’t clear yet,” Barkin said in the text of a speech to be delivered before the Real Estate Roundtable in Washington. Having held rates steady at the September Federal Open Market Committee meeting, Barkin said “we have time to see if we have done enough, or whether there’s more work to do.”
Recent rounds of economic data have shown unexpected resilience in the face of what have been very aggressive Fed rate hikes aimed at lowering inflation back to the central bank’s 2% target
"I see an economy that is much further along the path to demand normalization than much of the data would tell you," even as "the path for inflation isn t clear yet," Barkin said in the text of a speech to be delivered before the Real Estate Roundtable in Washington.