Central Banks
Barkin Says Progress Made But Fed Can’t Declare Victory Yet
- Richmond Fed chief describes recent rate cut as recalibration
- Still ‘significant uncertainty’ on inflation and employment
Thomas Barkin
Photographer: Christopher Goodney/BloombergThis article is for subscribers only.
Federal Reserve Bank of Richmond President Tom Barkin noted progress on inflation and signs that pricing power is being wrung out of the economy, though he said it is too early for the central bank to declare victory.
“It remains difficult to say that the inflation battle has yet been won,” Barkin said in prepared remarks Wednesday in Wilmington, North Carolina at a conference organized by the University of North Carolina Wilmington. “There is still work to do on inflation.”