Central Banks
Fed’s Barkin Says Need Clarity on Inflation Before Cutting Rates
- Says now is not the time for forward guidance on policy moves
- Barkin reiterates need for sustained, broad inflation progress
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Federal Reserve Bank of Richmond President Thomas Barkin said he needs further clarity on the path of inflation before lowering interest rates.
“My personal view is let’s get more conviction before moving,” Barkin said to reporters Thursday following an event in Richmond, reiterating that he needs sustained and broadening progress toward the Fed’s 2% goal before adjusting borrowing costs lower.