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MNI BRIEF: Inflation's Down, Not There Yet - Fed's Barkin

USPolicy NewsCentral Bank NewsHomepageFederal ReserveEM Policy NewsEM Policy StoryEM BriefBriefStoryRegionNorth America

Richmond Fed President Tom Barkin said Thursday there has been progress on inflation while unemployment remains low.

"Big picture, economy, unemployment's still 4%. Inflation's down. We're not all the way there, but we're making progress," Barkin told WV MetroNews from the West Virginia Chamber annual business summit. "Nobody at the Fed has an interest in keeping interest rates high. We only have an interest in bringing inflation down." (See: MNI INTERVIEW: Fed Likely To Make Series of 25bp Cuts- Blinder )

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Richmond Fed President Tom Barkin said Thursday there has been progress on inflation while unemployment remains low.

"Big picture, economy, unemployment's still 4%. Inflation's down. We're not all the way there, but we're making progress," Barkin told WV MetroNews from the West Virginia Chamber annual business summit. "Nobody at the Fed has an interest in keeping interest rates high. We only have an interest in bringing inflation down." (See: MNI INTERVIEW: Fed Likely To Make Series of 25bp Cuts- Blinder )

Keep reading...Show less