Fed’s Barkin Recent Remarks

The President of the Federal Reserve Bank of Richmond, Thomas Barkin, spoke to reporters earlier today, before a speech to a virtual event.

‘’It’s hard to find a huge drop in the real-time data.”

“I’m thinking about credit-card spending which I get to see every week. It really hasn’t taken a step back yet.”

“I’m intrigued by what the Bank of Canada has done in terms of duration extension.”

“I think that is an interesting technique if we decide the economy needs some more stimulus.”

“We have a relatively flat yield curve at relatively low levels.”

“It is not compellingly obvious to me that the big challenge we have right now is around how do we lower Treasuries another few basis points.”

“It is easy to imagine that this will lead the recovery to flatten over the next few months as we try to work our way through the winter.”

“I’m also reasonably hopeful on the vaccine for the virus. If that comes in say at the end of the second quarter, then you can imagine some light at the end of the tunnel.”