- Richmond Fed president Barkin: I don't expect to see price pressure this year between base effects, fiscal spending and the use of excess savings
Market news
19 February 2021
Richmond Fed president Barkin: I don't expect to see price pressure this year between base effects, fiscal spending and the use of excess savings
- Says inflation is "not in the numbers"
- Warmer weather, spreading immunity will mean fewer constraints on consumers and businesses
- Individual hesitance to receive coronavirus vaccine is potential barrier to herd immunity but the economy may not require it
- Hopes combination of easy policy, savings and fiscal help can return U.S. economy to health "in short order"
- Fundamental challenge for U.S. growth right now is how to increase the workforce
- Raising labor force participation is on ground battle that will hinge on social supports, training, wages and other incentives to attract workers
- Infrastructure program could face constrained supply of construction, manufacturing workers
- Imbalance between housing demand and supply is likely multi-year problem
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