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Richmond Federal Reserve President Thomas Barkin said on Wednesday that he is sure policymakers will debate at the July policy meeting whether it is still appropriate to describe inflation as elevated, per Reuters Key takeaways “Looking for low inflation to sustain and broaden; starting to see the broadening.” “No one 25-basis-point interest rate cut matters one way or the other; the issue is when to change the narrative.” “US labor market remains quite healthy.” “Recent housing inflation data was encouraging.” “Very encouraged that disinflation is broadening and hopeful it continues.” “Still looking for a bit more evidence that disinflation will be sustained.” “The number one way for the Fed to keep its credibility is to do the right thing at the right time.” Market reaction The US Dollar Index stays on the back foot in the American session and was last seen losing nearly 0.5% on the day at 103.75. Source: https://www.fxstreet.com/news/feds-barkin-will-debate-at-july-meeting-whether-still-appropriate-to-describe-inflation-as-elevated-202407171431

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Filed under: News - @ July 17, 2024 11:24 pm