Thomas Barkin Richmond Fed
Fed's Barkin:
- Hard to reconcile current breadth of inflation with the progress the Fed needs to see for rate cuts.
- Disinflation likely to continue, but speed of that remains unclear
- Open to rate cuts once it is clear progress on inflation will be sustained and apply more broadly in the economy
- Businesses acknowledge less pricing power than before but are still findings strategies that may keep inflation too high.
Not too surprising.
