Fed's Barkin: Still ways to go to get to a soft landing
In an interview with Sirius XM on Wednesday, Richmond Federal Reserve Bank President Thomas Barkin said that the US still has "ways to go" go get to a soft landing, per Reuters.
Key takeaways
"Big picture of US data on inflation and jobs has been remarkable."
Recent data on PPI and CPI have been less good, showing dependence of disinflation on goods."
"January data made things harder but should not put too much weight on the month's information given seasonal issues."
"Ease of hiring is not yet back to normal but conditions are improving."
"Interest sensitive sectors are struggling but people still have money to spend on services, experiences."
"Productivity metrics are poor, need to be viewed over longer time periods."
"Weaker growth overseas should not have much impact on a US recovery driven by domestic consumption."
"US is on the back end of its inflation problem; question now is how much longer it will take."
Market reaction
The US Dollar Index showed no immediate reaction to these comments and was last seen trading flat on the day at 104.05.
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