Richmond Fed president Thomas Barkin on Bloomberg
Fed's Thomas Barkin is on Bloomberg saying:
- risks are tilted a bit more to the downside
- markets will adjusted rates end up not suggesting a need for a cut
- businesses are not cutting back on spending but they are not leaning forward
- consumer companies he talks to do not see demand weakening
- rate cuts, if needed with stimulate the economy in many ways
- sees a low likelihood of strong price hikes in the economy
- there are not that many tariffs in the US economy
- businesses are starting to think US tariffs on China may be long-term
- US labor market is tight
- he is focused on economic data, not the markets
- The Fed will discuss what to do with balance sheet if they decide to change rates
- he hopes and expects that Pres. Trump will not remove Fed Chairman Powell
- there is still a lot of important economic data to come before next Fed meeting
He sounds unsure about if a cut is needed or not. Barkin is president of the Richmond Fed. He is not did voting member until 2021
