Federal Reserve Bank of Richmond President Thomas Barkin spoke earlier on “The New Job Hierarchy” before the Money Marketeers of New York University:
From the Q&A:
And more now:
- Unclear how far Fed will have to take balance sheet wind down
- Surprised economy
has been so strong despite aggressive fed action - Fed tightening still
working its way through economy - Future job market
gains depend on lowering inflation - Some slow down
needed to lower inflation - Effort to lower
inflation will have smaller job market impact this time - Expects some amount
of unemployment rise - Decline in fed
reverse repo take up isn’t a surprise
Major FX rates are little changed.
Fed’s Barkin