Thomas Barkin Richmond Fed 2
  • We're still a world of prices increasing at higher levels
  • Says he tried to not take too much out of January economic figures in general
  • PCE data yesterday is consistent with the story he is hearing with regards to services inflation
  • Inflation is coming down but we have to see how much more has to happen to get it to 2%
  • I am not in a hurry to cut rates
  • I still see wage and inflation pressures
  • Yesterday was a high inflation report
  • We'll see if there are rate cuts this year
  • It all depends on progress on inflation
  • Economy will tell us what to do on policy

Barkin tilts dovishly, so a hawkish comment from him is notable. He also tends to align closely with the core of the FOMC.