Thomas Barkin Richmond Fed
Fed Barkin is speaking and says:
- Inflation is coming down towards the 2% target.
- Can see paths where inflation is sticky or continues to progress towards target.
- Was encouraged by the unemployment rate in December.
- Seems the job market has stabilized.
- Not much to support arguments that the economy is growing weaker.
- Not concerned about overheating economy right now; demand is solid but not booming.
- Long rates right now are consistent with early 2000s, which was not a restrictive time for business.
- Has not seen anything in long rates that would influence Fed policy at this point.
- Regarding incoming Trump administration's policies, the direction of travel may be clear on things like tariffs, but the details are not.
- Businesses generally saying that price-setting behavior is moving to pre-pandemic patterns.
