- Analytics
- News and Tools
- Market News
- Fed's Barkin: Inflation fight may lead to downturn
Fed's Barkin: Inflation fight may lead to downturn
The Federal Reserve's (Fed) fight against inflation may lead to a downturn in the United States (US) economy but that is a risk that the Fed will have to take, Richmond Fed President Thomas Barkin said on Wednesday, as reported by Reuters.
Key takeaways
"Fed rate hikes challenged by artificial elements in the current economy including high consumer savings, lack of labor supply."
"Not waiting for those issues to settle on their own, doing what it takes to return inflation to 2% target."
"Given the experience of the 1970s, Fed can't let inflation fester and expectations rise."
"The US could continue to face labor constraints going forward."
"Supply chains improving but slowly and inconsistently."
Market reaction
The US Dollar showed no immediate reaction to these comments and the US Dollar Index was last seen rising 0.35% on the day at 110.00.
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
