The Federal Reserve's Barkin said inflation was above target but unlikely to rise further, and consumer resistance and productivity gains would help it slow.
The Federal Reserve's Barkin said it agreed with Powell that the December rate cut was not on the board.
US companies are neither hiring nor laying off workers and there has been a marked shift in the job market, said Mr. Barkin, with executives noticing a flood of applicants for every job.
Federal Reserve official Barkin said that the upcoming data will determine whether the Federal Reserve should further cut interest rates.
Federal Reserve Barkin: I predict that interest rates will adjust modestly.
Federal Reserve Barkin: I predict that interest rates will adjust modestly.
Federal Reserve Barkin: The unemployment rate of 4.2% is not a bad number. The unemployment rate has been very stable, and the slowdown in job growth has matched the slowdown in labor force growth.
Federal Reserve Barkin: Inflation will be more moderate than people think. Consumers feel a little stretched.
Federal Reserve Barkin: Tariffs will bring more price pressure.
Federal Reserve Barkin: Tariffs will bring more price pressure.