Reported about 1 year ago
Federal Reserve Bank of Richmond President Thomas Barkin emphasized the importance of gaining more clarity on inflation trends before considering lowering interest rates. Barkin mentioned that he requires sustained and broadening progress towards the Fed's 2% inflation target before adjusting borrowing costs. As a voting member of the Federal Open Market Committee, Barkin believes that the current policy position is appropriate and that the Fed has the necessary tools to manage inflation, indicating that the timing and necessity of future rate cuts will be dependent on economic conditions.
Source: YAHOO