The president of the Federal Reserve Bank of Richmond (Fed), Thomas Barkinstated on Friday that disinflation is likely to continue, but its speed remains uncertain.
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“It's difficult to reconcile the current breadth of inflation with the progress the Fed needs to cut rates.”
“Disinflation likely to continue, but its speed remains unclear“.
“We are open to rate cuts once it is clear that progress on inflation will be sustained and applied more widely across the economy.“
“Companies acknowledge they have less pricing power than before, but they continue to find strategies that can keep inflation too high.”
“I think it's smart for the Fed to take its time.”
“Fed officials are looking at the same data, but it's easy to draw different conclusions.”
“Tightening Fed policy will end up slowing the economy further, which does not mean painful job losses in a 'less vulnerable' economy.”
“We are optimistic that keeping rates 'somewhat restrictive' can return inflation to target.”
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
