The Federal Reserve (Fed) Bank of Richmond President Thomas Barkin said on Friday that disinflation is likely to continue, but speed of that remains unclear.
Key quotes
“Hard to reconcile current breadth of inflation with the progress the Fed needs to see for rate cuts.”
"Disinflation is likely to continue, but speed of that remains unclear.”
“Open to rate cuts once it is clear progress on inflation will be sustained and apply more broadly in the economy.”
“Businesses acknowledge less pricing power than before but are still finding strategies that may keep inflation too high.”
"I think it is smart for the Fed to take our time.”
“Fed officials are looking at the same data but it is easy to draw different conclusions.”
“Tight Fed policy will eventually slow the economy further that doesn't mean painful job losses in a 'less vulnerable' economy.”
“Optimistic keeping rates 'somewhat restrictive' can return inflation to target
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