More from Richmond Fed Pres Barkin:
- Hard to know what to do with rates based on economic model
- What like to see a broadening in forces lowering inflation
- Would like to see rents, service prices cool more.
- Confidence to cut will be driven by more inflation abatement
- Will learn a lot about inflation over the next six months.
- If inflation goes back to 2% amid strong demand, would signal higher neutral rate
- January jobs data points to incredibly vibrant job market
- Job market is tight, but not as tight as data suggests
- Comfortable to debate inflation target range once 2% inflation is achieved.
- Might be good to have minus range around inflation target in future.
- CRE troubles are concentrated in office spaces
- Risks of deflation seem quite remote
- Tries not to pay much attention to stock market moves.
