Fed's Barkin: If more hikes needed to bring down inflation, I'm comfortable with that
|Thomas Barkin, president of the Federal Reserve Bank of Richmond, told Bloomberg on Tuesday that he would be comfortable with more rate increases if that's what is needed to bring inflation down, per Reuters.
Key takeaways
"I like the optionality implied in the statement from last meeting."
"Deposit flows are stable at banks in my district, encouraged by the resilience I've seen."
"Commercial office sector is where you hear the most concern."
"Most people I talk to anticipate a downturn over coming quarters."
"When it comes to downsizing, businesses are quite cautious, reluctant to let staff go."
"Businesses will not give up pricing power unless they're forced to do it."
Market reaction
The US Dollar Index clings to modest recovery gains slightly above 102.50 following these comments.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.