Richmond Fed President Thomas Barkin highlighted the strength of the labor market and the encouraging trend of decreasing inflation in a Bloomberg TV interview. The cautious yet optimistic outlook grants Fed a period of watchful waiting before starting interest rate cuts.
“It’s a very strong labor market still, and so gratified to see inflation coming down, hoping it continues to come down,” Barkin remarked.
Barkin further indicated willingness to adopt a patient approach in the coming months. “I think we’ve got some time to be patient,” he stated. Fed will get “a few more months” of inflation data and he desires “to see that trend continue and broaden”.
