Central Banks
Fed Has Time to Be Patient on Cutting Interest Rates, Barkin Says
- Richmond Fed president said data has been ‘remarkable’
- Like to see broader and sustained disinflation, Barkin says
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Federal Reserve Bank of Richmond President Thomas Barkin reiterated policymakers have time to be patient about the timing of rate cuts, pointing to a strong labor market and continued disinflation.
“No one wants inflation to reemerge,” Barkin said Thursday in prepared remarks at an Economic Club of New York event. “And given robust demand and a historically strong labor market, we have time to build that confidence before we begin the process of toggling rates down.”