Richmond Fed President Thomas Barkin
Richmond Fed Pres. Barton is a speaking
- The Fed's 50 basis point cut was warranted as rates were at of St. with declines inflation and unemployment rate near its sustainable level
- Fed cannot declare inflation battle is over
- Expect little further drop in core PCE until next year
- Watching closely how lower interest rates influence home and auto sales to see if the man risks out running supply
- 50 basis points to cut shown as the median Fed policy projection for the rest of 2024 would also take a little bit of the edge off rates
- While a low hiring, low firing labor market could persist, demand for workers could also move higher if demand grows
- Recent labor action and geopolitical conflict are also among inflation risks
- The pace and extent of rate reduction cycle requires Fed to be attentive to how economy and inflation evolve
