Consequences of COVID Should Give Fed Pause Before Rate Cuts, Fed’s Barkin Says
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Thomas Barkin, president of the Federal Reserve Bank of Richmond, during an interview in New York, US, on Thursday, Feb. 8, 2024.
Christopher Goodney/Bloomberg via Getty Images
Richmond Federal Reserve President Tom Barkin joined the chorus of Fed speakers seeking “confidence” that inflation has moved to return to 2% before cutting rates, Thursday. However, he also raised concerns about the disruption that the pandemic and inflation had on the economy.
“While our wars on COVID-19 and inflation can’t compare to the horrors of actual war, I’m still wondering how these experiences may have changed our economy,” said Barkin.
The lasting consequences of these events are a reason the Fed should approach interest rate cuts with caution, he said.
Barkin has joined…
