Fed's Barkin: Risks are tilted a bit more to the downside

Author: Greg Michalowski | Category: Central Banks

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
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