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Fed’s Barkin Suggests Rate Cuts Possible If Inflation Keeps Falling
Federal Reserve Bank of Richmond President Thomas Barkin suggested the US central bank would cut interest rates if recent progress on inflation continues, but said he’s still looking for conviction that inflation is heading back to the Fed’s 2% target. “If you’re going to assume that inflation comes down nicely, of course we would respond appropriately,” Barkin said in a broadcast interview with Yahoo Finance. Barkin, who will vote on policy decisions next year, said he’s looking for “consistency and breadth” in inflation data over the next several months, and added that he sees demand for labor and ... (full story)