Richmond Fed President Tom Barkin states US economy remains strong, no immediate need for interest rate cuts.

Richmond Fed President Tom Barkin said US economy remains strong, no immediate need for interest rate cuts, despite slowdown in hiring. Layoffs are not imminent, but a sharp rise in unemployment or faster decline in inflation could warrant a quick Fed response. Barkin is optimistic about upcoming inflation readings and sees no need for an immediate rate cut.

August 08, 2024
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