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Barkin Watching Labor Market To See If Fed Has More Work To Do

FED

Fed Richmond President Barkin has stated that the central bank's decision to hold steady on policy rates earlier this month was the right move. He added that the central bank has time to see if it has done enough or if more work needs to be done. There is a wide range of scenarios in terms of the economic outlook, according to Barkin.

  • The Richmond Fed President stated the path forward for interest rates will depend on the inflation backdrop and whether the Fed has done enough to bring down pressures, or whether we see persistence in price pressures.
  • Barkin stated he is watching the labor market closely to gauge these risks.
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