Richmond Fed President Tom Barkin said the Fed's direction of travel is straightforward with high inflation, solid demand, and low unemployment; the question is the pace of policy moves. He favors a gradual approach and said the Fed will see what it learns over the next period.
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WHAT WE KNOW
Barkin said the Fed's direction of travel is straightforward given high inflation, solid demand, and relatively low unemployment.
Barkin said the question is how quickly the Fed should move.
Barkin said a gradual approach is a good way to go.
The Fed's policy statement this month said accumulating more information will help determine the appropriate policy stance.
Richmond Fed President Tom Barkin said the Fed's direction of travel is straightforward given high inflation, solid demand, and relatively low unemployment. The open question is the pace of policy moves. He said a gradual approach is a good way to go and that the Fed will see what it learns over the next period. He also referenced the Fed's policy statement language about accumulating more information to determine the appropriate policy stance.
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