"Fed Messenger" Nick Timiraos: The strong inflation data in January makes the case for the Federal Reserve to further "readjust" the path of interest rate cuts before the middle of the year untenable. (Jin Ten)
Mr. Balkin said the economy was in good shape, which allowed the Fed to reduce borrowing costs. "A strong but more discerning consumer, combined with a more productive and valuable workforce, has made the economy a great place to be," Mr. Balkin said on Tuesday in remarks prepared for a joint summit speech in Baltimore. "The Fed has the ability to respond appropriately regardless of how the economy evolves," he said.