Fed's Barkin says the Bank is still a "good way away" from its 2% inflation target

<p>More remarks from Federal Reserve Bank of Richmond President Thomas Barkin. He is speaking (and taking questions) on the economy before the Risk Management Association.</p><ul><li>Federal Reserve is still a "good way away" from its 2% inflation target</li><li>Will not prejudge the July meeting</li><li>Would support rate cuts when there is conviction inflation is heading down</li><li>The question of how much slack is needed to lower inflation is 'the fundamental question' the Fed needs to dig into</li><li>there are many pandemic-era forces still countering the FOMC tightening, including excess savings, housing and asset wealth, fiscal spending</li><li>it does seem that demand is weakening</li></ul><p>While Barking says he won't be prejudging the July meeting it sure sounds like he is on a further rate hike path. </p><p>Earlier:</p><ul><li><a href="https://www.forexlive.com/centralbank/feds-barkin-says-us-inflation-is-still-too-high-20230622/" target="_blank" rel="follow" data-article-link="true">Fed's Barkin says US inflation is still too high</a></li></ul>

This article was written by Eamonn Sheridan at www.forexlive.com.