Richmond Fed Pres Barkin adds to his comments from earlier saying:
He is sure that the US central bank will debate at July policy meeting whether it is still appropriate to describe inflation as elevated Looking for low inflation to sustain and broaden, starting to see the broadening.No one 25 basis point interest rate cut matters one way or the other, the issue is when to change the narrative.US labor market remains quite healthy.Recent housing inflation data was encouraging.Hes been very encouraged that this inflation is broadening and hopes it continues.Still looking for a bit more evidence that this inflation will be sustained.The number one way for the Fed to keep its credibility is to do the right thing at the right time
This article was written by Greg Michalowski at www.forexlive.com.
