The president of the Federal Reserve Bank of Richmond, Thomas Barkin, said Monday that the Fed’s forecasts show a range of expectations about the economy and explained that it paves the way for a range regarding the timing of takeoff, according to Reuters.
Featured statements
“We need to review the 12-month inflation figures for the next 6 months.”
“We will look at the inflation figures month by month, the average inflation trimmed.”
“The Fed has given extremely explicit results-based guidance on interest rates.”
“I don’t think we are in ‘further substantial progress’ at this point.”
I’d like to go a good part of the way before having a conversation about that progress. “
“The strength of bond yields is a good thing.”
“We should expect the market to adapt to the news; that doesn’t bother me.”
“In fact, the economy is getting stronger.”
Market reaction
The US Dollar Index did not show an immediate reaction to these comments and was last seen posting small daily losses at 91.87.
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