Richmond Fed President Tom Barkin expects current interest rates to help cool demand and reduce inflation.

Richmond Fed President Tom Barkin is optimistic that the current interest rates will help cool demand and eventually bring inflation down. Barkin believes that the Federal Reserve can afford to be patient due to a strong job market and does not see the economy overheating, though the risk of continued shelter and services inflation remains. The Fed intends to maintain its benchmark interest rate at its current level until it gains greater confidence that inflation is moving sustainably towards 2%.

May 06, 2024
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