US: Richmond Fed Barkin said the labour market remains vibrant
|Richmond Fed Thomas Barkin spoke at the Economic Club of New York on Thursday:
In aggregate, past rate hikes are still working their way into the economy.
It's hard to determine the appropriate course of action for rates based solely on economic models.
I would like to see a broader range of factors contributing to lower inflation.
Specifically, I would like to see rents and service prices cooling down further.
The decision to cut rates will depend on the extent to which inflation is being mitigated.
We will gain valuable insights into inflation trends over the next six months.
If inflation returns to 2% alongside strong demand, it would indicate a higher neutral rate.
The January jobs data indicates an incredibly vibrant job market. However, while the job market is tight, it may not be as tight as the data suggests."
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