Richmond Fed President Thomas Barkin said on Friday that there is more to come to get rates into the restrictive territory and noted that he would like to see PCE inflation running at target for some time, as reported by Reuters.
"Economy weathering rate hikes well."
"Economy is fundamentally sound."
"Inflation is being driven by commodity prices, supply chain issues, demand."
"Raising rates would not be inconsistent with a tight labor market."
"On financial conditions, I look at real rates, I want them to be positive."
"We are on brink of moving real rates to positive territory."
"We need to sustain them there and follow through with expectations on rate hikes."
"Demand is definitely softening."
"Demand for higher-end services is still robust."
"You need to get inflation down on a sustained basis, then talk about what you do with rates."
"If you can get inflation to target for a number of months, that's what we'd like to see."
"Not every recession is like the great recession."
"There have been a lot of modest recessions."
"We've got a lot of time before the September meeting."
"Will keep eyes on economic data and make up mind closer to meeting."
"We'll see how much demand will need to soften to get inflation under control."
The dollar continues to outperform its rivals after these comments and the US Dollar Index was last seen rising 0.55% on the day at 105.65.
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. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.