Richmond Fed President Thomas Barkin raises concerns about persistent inflation potentially hindering interest rate cuts.

Richmond Fed President Thomas Barkin has voiced concerns about persistent inflation, which may hinder potential interest rate cuts. He supports the recent 50 basis point cut and anticipates another by year-end, but warns that inflation may remain above 2%. Barkin emphasizes the need to monitor economic conditions, as strong demand and a tight labor market could complicate the Fed's inflation battle. He also highlights ongoing risks from labor actions and geopolitical tensions.

October 02, 2024
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