FED'S BARKIN: SHELTER AND SERVICES INFLATION IS NOT QUITE THERE
Richmond Federal Reserve Bank President Thomas Barkin said on Tuesday that May inflation data was very encouraging, per Reuters.
Fed policymakers not in a hurry to cut rates, looking for further progress in inflation.
Key takeaways
"We are clearly on the back side of inflation."
"Hard to know how much signal to take from inflation last year, or this quarter, or last couple of weeks."
"On the goods side, I hear pricing power is waning."
"On services side, I still think firms are exploring raising prices as much as possible."
"Shelter and services inflation is not quite there."
"I didn't get more confidence in Q1 this year about inflation, we'll see where we go."
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
FOLLOWME Trading Community Website: https://www.followme.com
Hot
No comment on record. Start new comment.