Fed's Barkin says the infrastructure bill is not a near-term stimulant

Federal Reserve Bank of Richmond President Thomas Barkin

• Expects that supply chain disruption will persist "well into" 2022
• Will watch wages and the labour market for sings that inflation is becoming more persistent
• Household and market indicators suggest that inflation expectations over the medium to long term are still in line
• if the need is there the Federal Reserve will act to curb inflation, but its good to have a few more months "to see where reality is"

That last one ... wow. I guess that latest US CPI blowout was not real enough for the Fed. Perhaps some of these guys should head on down to the supermarket and/or gas station.