Fed's Barkin says the Bank is still a "good way away" from its 2% inflation target

More remarks from Federal Reserve Federal Reserve The Federal Reserve System, more commonly known as the Fed, represents the central banking system of the United States. Like other central banks globally, the Fed is responsible for monetary policy, in this case in the US.The Fed is one of the most watched and followed entities for forex traders, given its material impact on the US dollar. Founded initially in 1913, the Fed was created to perform a wide range of functions. This includes stabilizing and maintaining flexible monetary policy in the The Federal Reserve System, more commonly known as the Fed, represents the central banking system of the United States. Like other central banks globally, the Fed is responsible for monetary policy, in this case in the US.The Fed is one of the most watched and followed entities for forex traders, given its material impact on the US dollar. Founded initially in 1913, the Fed was created to perform a wide range of functions. This includes stabilizing and maintaining flexible monetary policy in the Read this Term Bank of Richmond President Thomas Barkin. He is speaking (and taking questions) on the economy before the Risk Management Association.

• Federal Reserve is still a "good way away" from its 2% inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term target
• Will not prejudge the July meeting
• Would support rate cuts when there is conviction inflation is heading down
• The question of how much slack is needed to lower inflation is 'the fundamental question' the Fed needs to dig into
• there are many pandemic-era forces still countering the FOMC tightening, including excess savings, housing and asset wealth, fiscal spending
• it does seem that demand is weakening

While Barking says he won't be prejudging the July meeting it sure sounds like he is on a further rate hike path.

Earlier:

• Fed's Barkin says US inflation is still too high