Fed's Barkin
Richmond Fed Pres Barkin adds to his comments from earlier saying:
- He is sure that the US central bank will debate at July policy meeting whether it is still appropriate to describe inflation as elevated
- Looking for low inflation to sustain and broaden, starting to see the broadening.
- No one 25 basis point interest rate cut matters one way or the other, the issue is when to change the narrative.
- US labor market remains quite healthy.
- Recent housing inflation data was encouraging.
- Hes been very encouraged that this inflation is broadening and hopes it continues.
- Still looking for a bit more evidence that this inflation will be sustained.
- The number one way for the Fed to keep its credibility is to do the right thing at the right time
