Posted 4/4/2024, 9:38:57 PM
Fed's Barkin: More Widespread Slowing of Inflation Needed Before Supporting Rate Cuts
- Fed's Barkin wants to see more widespread slowing of inflation before supporting rate cuts
- 55% of goods and services still see prices rising over 3%, higher than pre-pandemic level
- Barkin concerned by pricing power still retained by some firms to segment price hikes
- March CPI report will be important to assess if high inflation in Jan/Feb was a temporary “bump”
- Barkin acknowledges disinflation is continuing but wants faster progress before backing rate cuts
