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Barkin – Will Take A Little Bit More Time To Get Inflation Down

FED

Richmond Fed’s Barkin (’24 voter) speaks on CNBC. Collating Bloomberg headlines:

  • Question is how long to hold rates to get inflation down. We’re at a restrictive level and it will just take some time.
  • Believe inflation is coming down, we’re on the right path, but will take little bit more time to get it down.
  • Businesses still willing to raise prices, the edge has to come off demand more to hit 2% inflation. Services and shelter sectors are still inflationary.
  • Retail sales data show consumer spending good, not great [this is similar to his prior view of overall demand being solid but not overheating].
  • Can't say fiscal spending has no impact on the economy.
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