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Richmond Fed President Barkin: "Fed policy has entered the neutral rate range… must watch both inflation and employment"
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Summary
- Richmond Fed President Barkin said the Fed's monetary policy has entered the neutral rate range.
- The president said inflation and employment data should be monitored in balance.
- He said tax cuts, deregulation, and interest rate cuts could have a positive effect on the economy.
A Federal Reserve official said that the U.S. central bank's monetary policy has reached the neutral rate range.
On the 6th, according to the overseas economy breaking news channel Walter Bloomberg, Thomas Barkin, president of the Federal Reserve Bank of Richmond, said, "Current Fed policy is within the range estimated to be the neutral rate."
President Barkin said regarding the direction of monetary policy, "Progress on both inflation and employment must be managed in a balanced way." He emphasized that "both sides of the Fed's dual mandate are subjects of attention."
He added, "I expect to see more 'clean' data in the coming weeks," indicating that forthcoming economic indicators will be key variables in policy decisions.
Regarding the economic outlook, he noted that changes in the fiscal and policy environment could positively affect growth. Barkin said, "Tax cuts, deregulation, and interest rate cuts will stimulate the economy."
