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MNI BRIEF: US Inflation Falling, But No Victory Just Yet - Fed's Barkin

(MNI) LONDON
Good inflation at pre-Covid levels, but services, shelter some way to go.
USCentral Bank NewsPolicy NewsFederal ReserveBriefGlobalStoryNorth America

Inflation is clearly falling but it's too soon for policymakers to declare victory Richmond Fed President Tom Barkin told an MNI webcast Tuesday, as shelter and services price growth continue to run hotter than goods prices. (register for event)

"We are clearly on the backside of inflation," Barkin said but added quickly it is hard to know how long it will take to go all the way to target. However, he did note that goods price inflation was back around pre-Covid levels, helped by both monetary policy settings and supply chain easing.

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Inflation is clearly falling but it's too soon for policymakers to declare victory Richmond Fed President Tom Barkin told an MNI webcast Tuesday, as shelter and services price growth continue to run hotter than goods prices. (register for event)

"We are clearly on the backside of inflation," Barkin said but added quickly it is hard to know how long it will take to go all the way to target. However, he did note that goods price inflation was back around pre-Covid levels, helped by both monetary policy settings and supply chain easing.