Fed’s Barkin: Fed will respond if inflation comes down as expected

Thomas Barkin, the president of Richmond Federal Reserve Bank, stated that the Federal Reserve would “act appropriately” if inflation declines as anticipated in a Tuesday interview with Yahoo Finance.

In the wake of these remarks, the US dollar finds it difficult to find demand. The US Dollar Index was down 0.35% for the day at 102.15 as of the time of publication.

Key Quotes

“Inflation data has been going the right direction.”

“We are making good progress on inflation.”

“Time to balance focus on Fed’s mandate.”

“Fed forecasts are not guidance, just a forecast.”

“Demand and inflation are normalizing.”

“Economy not as frothy as data had suggested.”

“Seeing signs of weakening in some parts of consumer economy.”

“Looking for conviction inflation is coming back to target.”

“We are going to learn a lot over first half of next year.”

“Fed is nicely positioned given the outlook for the economy.”