Feds Barkin Pres. of the Richmond Fed
- I like the Fed to get better positioned
- how fast we go depends on how economy develops
- a lot depends on how inflation develops this year
- I'd like to Fed to be closer to neutral than we are now
- there is a lot of influence on the short end of the yield curve
- The longer end of the market is influenced by global markets
- I think we are going to see goods prices ease
- I am watching labor wage pressure
- we are about as tight as you can imagine regarding employment
- I believe a lot of people on the sidelines is because of Covid
- we are in interim full employment, but there is still some upside ahead
- no question we saw demand issue in January, but fingers crossed for stronger spring
- expecting a continued strong job market in the spring and summer
- The underlying demand in the economy is very strong
- We are still a long way away from triggering any recession
- I'm not seeing a weakening in core demand: its now our focus to worry about a recession when demand is still strong.
- The country depends on the Fed to manage inflation in the medium term.
Barkin is not a voting member until 2024.