More from Richmond Fed Pres Barkin: Still feels like weight of risk is toward inflation

More from Richmond Fed Pres Barkin:

• Still feels like weight of risk is toward inflation.
• The metrics of where neutral rate is has moved up, but feels like current policy is restrictive
• At this point willing to believe that current rates are restrictive enough.
• Hear strongly from business contacts that the labor market is normalizing though some sectors that fell behind in hiring during the pandemic are still catching up.
• GDP growth still seems strong, focused attention now on job market
• Recent data makes you think less optimistically about how quickly inflation gets under control. It is a stubborn road
• Takes a while to corral price setters to think they don’t have a chance.
• Have not yet seen evidence that inflation is on track. 10 to imagine federal need to take some edge off the med to finish inflation fight, though some help from supply-side is still possible

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