Fed's Barkin: Inflation moving in right direction; shelter and services 'not quite there'
==========
Richmond Federal Reserve President Tom Barkin stated that the latest inflation reading is encouraging, but shelter and services inflation are not at the desired level. He mentioned that the overall inflation numbers are moving in the right direction. Barkin emphasized the need for sustained and broad disinflation to be more confident in reaching the 2% inflation goal. He also mentioned that the path ahead for policy is unclear due to the choppiness in data. The Fed's Summary of Economic Projections (SEP) released last year is seen as a forecast rather than a promise or commitment. Barkin suggested that one rate cut followed by a hold may be sensible.
#Inflation #FederalReserve #RichmondFederalReserve #SummaryOfEconomicProjections
https://seekingalpha.com/news/4117034-feds-barkin-inflation-shelter-services-rate-cut-outlook
Seeking Alpha /
npub1qpf…damf
2024-06-18 16:56:42
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wss://relay.noswhere.comPublished at
2024-06-18 16:56:42Event JSON
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"content": "Fed's Barkin: Inflation moving in right direction; shelter and services 'not quite there'\n==========\n\nRichmond Federal Reserve President Tom Barkin stated that the latest inflation reading is encouraging, but shelter and services inflation are not at the desired level. He mentioned that the overall inflation numbers are moving in the right direction. Barkin emphasized the need for sustained and broad disinflation to be more confident in reaching the 2% inflation goal. He also mentioned that the path ahead for policy is unclear due to the choppiness in data. The Fed's Summary of Economic Projections (SEP) released last year is seen as a forecast rather than a promise or commitment. Barkin suggested that one rate cut followed by a hold may be sensible.\n\n#Inflation #FederalReserve #RichmondFederalReserve #SummaryOfEconomicProjections\n\nhttps://seekingalpha.com/news/4117034-feds-barkin-inflation-shelter-services-rate-cut-outlook",
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