Richmond Fed Pres Barkin: Need to see more data to build confidence in inflation falling

Richmond Fed Pres Barkin is speaking once again. He has been a regular on the speaking circuit this week:

  • Fed can take time on decision to cut rates
  • Needs to see more data to build confidence inflation is falling
  • No one wants inflation to flare up again
  • Inflation has surprised to the upside before
  • Upcoming inflation data is likely to be favorable
  • Upside inflation risks are still around
  • Recent economic data has been ‘remarkable’
  • Possible path back to 2% inflation will be bumpy
  • Firms more stable on employment, see less pricing power
  • Business contacts less worried about recession risks

Barkin is totally unsure and is not afraid to say that. He is in no hurry to do anything right now.

This article was written by Greg Michalowski at Source