Richmond Fed president Barkin: We want to be ready adjust to a fragile environment
|Richmond Fed president Barkin has said that the Federal Reserve want to be ready to adjust to a fragile environment.
Key comments
- We want to be ready adjust to a fragile environment.
- U.S. business investment has stepped back.
- Consumer dynamics remain great.
- There is a risk the U.S. talks itself into a recession but sees no sign that is happening yet.
FX implications:
Earlier in the day, in an interview with Bloomberg, St. Louis Fed President Bullard argued that a 50 basis points rate cut in July would be "overdone." This sent the dollar on a tear and Fed chat is a key focus, as is U.S. data leading into the Federal Reserve decision next month.
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