© Reuters.
Investing.com – Although the US Consumer Price Index released just slowed and came in lower than expected, the Fed member said, commenting on the inflation data released moments ago, that “inflation remains high and far from the Fed’s target.”
Thomas Barkin, president of the Federal Reserve Bank of Richmond, said demand remains high at the same time supply is constrained, and the rebalancing process has been slow.
To read the inflation data:
He also noted that the Fed is trying with all its tools to control inflation.
And Barkin continued: “The return of inflation to the 2% target requires more work from the Fed, stressing that the central bank is ready to tighten monetary policy more if the data does not indicate a slowdown in inflation towards the target.”
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2023-07-12 13:03:00
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