He Richmond Federal Reserve Bank President Thomas Barkinsaid on Wednesday that he is confident that policymakers will debate at the July policy meeting whether it is still appropriate to describe inflation as elevated, according to Reuters
Key points
“We are looking for low inflation to continue and expand; we are starting to see expansion.”
“No 25 basis point interest rate cut matters one way or the other; the question is when to change the narrative.”
“The U.S. labor market remains quite healthy.”
“Recent housing inflation data was encouraging.”
“Very encouraged that disinflation is broadening and hopeful that it will continue.”
“Still looking for some more evidence that disinflation will continue.”
“The number one way for the Fed to maintain its credibility is to do the right thing at the right time.”
Market reaction
The Dollar Index remains lower during the American session and was last seen losing almost 0.5% on the day at 103.75.
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.
