Barkin Says Fed in Good Place to Respond to Evolving Economy
- Price-conscious consumers helping curb inflation, Barkin says
- Richmond Fed chief waiting to see what happens post-election
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Federal Reserve Bank of Richmond President Thomas Barkin said the economy is in a good place, which has allowed the US central bank to lower borrowing costs.
“A strong but choosier consumer, coupled with a more productive and better valued workforce has landed the economy in a good place,” Barkin said Tuesday in remarks prepared for a speech at the Baltimore Together Summit. “The Fed is in position to respond appropriately regardless of how the economy evolves,” he said, with interest rates off their peak but still above their historic lows.