In an interview with CNBC on Friday, Federal Reserve Bank of Richmond President Thomas Barkin said it was welcome that pressure was easing in the jobs data and noted that the labor market was in better balance, according to Reuters.
Key quotes
“The Fed has more data to watch before its next rate decision.”
“We are focused on getting inflation down.”
“I’d like to think the markets are responding to the data.
“I’m not sure 25 basis points is the answer to all word problems.”
“Some evidence that price makers are seeing declining strength, but many still have it.”
“Low-end consumers are changing the way they spend.”
“High-end consumers don’t cut corners.”
“Really pleased with the recent productivity figures.”
“Cutting rates is still not on my mind.
“Hope and expect to see more progress in reducing inflation.”
“I dont know if Fed reached the peak of the tourism cycle.”
“High risks of too much and too little monetary tightening.”
“Unrest in the Middle East has not affected the data so far.”
Market reaction
US dollar index remains on the back foot following these comments, last losing 0.83% on the day to 105.28.
