More from Richmond Fed Pres Barkin: Fed will debate whether inflation is still “elevated”

Richmond Fed Pres Barkin adds to his comments from earlier saying:

• He is sure that the US central bank will debate at July policy meeting whether it is still appropriate to describe inflation as elevated
• Looking for low inflation to sustain and broaden, starting to see the broadening.
• No one 25 basis point interest rate cut matters one way or the other, the issue is when to change the narrative.
• US labor market remains quite healthy.
• Recent housing inflation data was encouraging.
• Hes been very encouraged that this inflation is broadening and hopes it continues.
• Still looking for a bit more evidence that this inflation will be sustained.
• The number one way for the Fed to keep its credibility is to do the right thing at the right time

This article was written by Greg Michalowski at www.forexlive.com.