MNI BRIEF: Fed's Williams Says There's No Urgency To Cut Rates

WILLIAMS: NOT BASE CASE TO RAISE RATES FURTHER

MNI: FED'S WILLIAMS: DON'T FEEL URGENCY TO CUT INTEREST RATES

MNI BRIEF: Beijing Opposes U.S. Measures Against Chinese Steel

MNI China Daily Summary: Thursday, April 18

MNI BRIEF: M2 Growth To Slow On Weak Demand - PBOC's Zou

US EIA:NAT GAS STORAGE +50 BCF TO 2,333 BCF APR 12 WK

MNI: US NAR: MAR EXISTING HOME SALES 4.19M SAAR

MNI: US APR PHILADELPHIA FED MFG INDEX 15.5

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Richmond Pres Barkin: "Let's See What Happens" On Economy, Fed Action

FED

Richmond Fed Pres. Barkin (2021 FOMC voter) in a media Q&A (quoted by Rtrs and BBG) sounding a cautious tone on pulling the trigger on further FOMC easing.

  • In sum, Barkin said he sees the existing level of Fed asset purchases as providing pretty strong stimulus, while extending the duration of purchases was an option if they decide they need to do more. His language on asset purchases being "strong" for now echoes previous comments.
  • On the outlook, he said that while COVID cases are surging and gov't benefits are expiring, that there is a vaccine coming that could improve medium-term fortunes, and households have plenty of savings to spend, so "let's see what happens" (when asked if the Fed needed to act).
  • He added that despite the COVID spike it is "hard to find a huge drop in the real-time data" for consumption and other areas of the economy. This appears to be an indication that Barkin believes that the case for an imminent Fed move was inconclusive.
  • He also noted that the end of several Fed/Tsy programs at the end of the year was a risk to the outlook, but that it was uncertain whether any particular backstop will be needed.
Energy BulletsCommodities
Energy BulletsCommodities

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.