More from Fed's Michael Barr:
- Inflation is far too high
- I don't have precise projections on unemployment rate
- It's the case that we are going to see significant softening in the economy
- Will see unemployment going up
- I have seen wide range of predictions on unemployment rate
- Fed will be data dependent and employment is one of the indicators we look at.
- We are not in a recession
- attentive to risks from Ukraine war, China
- as economy is a softening, we are attentive to credit risk
- it would be good to have better information on hedge funds
- we are seeing higher volatility in treasury markets
- with an increased volatility has, reduction in liquidity
- we are very attentive terms of risks that may lie ahead
Barr has been focusing his comments on the regulatory environment and risks this morning. The more recent are shifting a bit to the economy but are still somewhat superficial.