Fed's Barkin: Inflation not expected to come down predictably

Market news

30 August 2022

Fed's Barkin: Inflation not expected to come down predictably

Richmond Federal Reserve Bank President Thomas Barkin said on Tuesday that the United States is facing "post-war-like" inflation.

"I don't expect inflation to come down predictably," Barkin noted and reiterated that the Federal Reserve is committed to returning inflation to the 2% target.

Commenting on the growth outlook, "we are not today in a recession," Barkin said and added that a recession does not have to be calamitous.

Market reaction

The US Dollar Index showed no immediate reaction to these comments and was last seen trading in negative territory near 108.50.

Currencies. Daily history for Tuesday, August 30, 2022

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