Fed’s Barkin: Inflation above target but not accelerating
Federal Reserve (Fed) Bank of Richmond President Thomas Barkin said on Wednesday that countries that safeguard monetary policy autonomy tend to achieve better economic outcomes, as political pressure on the US Federal Reserve remains in focus.
Key quotes
Central bank independence delivers better outcomes.
Declines comment on political pressure facing the Fed.
Inflation above target but not accelerating.
Unemployment ticking up but remains contained.
Businesses showing less appetite to pass through prices.
Market reaction
At the time of writing, the US Dollar Index (DXY) is trading around 99.17, up 0.28% on the day.
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