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- Fed's Barkin: Fed to steer more deliberately due to lagged effects of policy
Fed's Barkin: Fed to steer more deliberately due to lagged effects of policy
Richmond Fed President Thomas Barkin said on Thursday that the effects of the Federal Reserve's policy tightening has been substantial, as reported by Reuters. Barkin further argued that it would make sense for the Fed to steer "more deliberately" from here due to lagged effects of policy.
Additional takeaways
"Inflation is likely past its peak but still elevated, will take longer for pullback in demand to further slow the pace of price increase."
"Confident that Fed has its foot unequivocally on the brake."
"While average inflation has peaked, the decline has been distorted by a few goods, median has stayed high."
"Data continue to push back recession risks."
"Core question for 2023 is whether inflation is really calming."
Market reaction
The US Dollar continues to weaken against its rivals following these comments and the US Dollar Index was last seen losing 0.72% on the day at 102.72.
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