Federal Reserve Bank of Richmond President Thomas Barkin spoke earlier on "The New Job Hierarchy" before the Money Marketeers of New York University:
From the Q&A:
And more now:
- Unclear how far Fed will have to take balance sheet wind down
- Surprised economy has been so strong despite aggressive fed action
- Fed tightening still working its way through economy
- Future job market gains depend on lowering inflation
- Some slow down needed to lower inflation
- Effort to lower inflation will have smaller job market impact this time
- Expects some amount of unemployment rise
- Decline in fed reverse repo take up isn't a surprise
Major FX rates are little changed.
Fed's Barkin
