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Barkin: December CPI Came In About As Expected, Won’t Prejudge March Rate Cut

  • Speaking in subsequent media Q&A, Richmond Fed’s Barkin (’24 voter) says the December CPI data came in about as expected and he still won’t prejudge a March rate cut.
  • “I don’t prejudge meetings – certainly not the meeting after the next meeting,” he said. “What I’m looking for is conviction that inflation is coming back to our target. Let’s see how the data plays out.”
  • He’s paying close attention to 1-to-3 month PCE inflation and he’s watching the gap between goods and services inflation.

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