Fed's Barkin: Fed has more data to see before next rate decision
|In an interview with CNBC on Friday, Federal Reserve Bank of Richmond President Thomas Barkin said that it was welcome to see lessening pressure in jobs data and noted that the labor market was in better balance, per Reuters.
Key quotes
"Fed has more data to see before next rate decision."
"Focused on seeing inflation come down."
"I'd like to think markets are responding to data."
"I'm not sure 25 basis points is answer to all word's problems."
"Some evidence price setters see declining power, but many still have it."
"Lower-end consumers are changing how they spend."
"High-end consumers are not cutting back."
"Really pleased by recent productivity data."
"Rate cuts still a ways off in my mind."
"Hope and expect to see more progress lowering inflation."
"I don't know if Fed has reached peak of hike cycle."
"Big risks to over and under tightening monetary policy."
"So far, Middle East turmoil hasn't affected data."
Market reaction
The US Dollar Index stays on the back foot following these comments and was last seen losing 0.83% on the day at 105.28.
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