Richmond Fed President Thomas Barkin cautioned that the Fed need to reassess its policy risks as recent economic data and geopolitical developments complicate the inflation outlook. In remarks to Bloomberg Television overnight, Barkin highlighted that stronger job growth and persistently elevated inflation readings could challenge earlier assumptions about the trajectory of price pressures.<\/p>\n
He noted that last year\u2019s rate cuts were justified largely by concerns that the labor market was weakening while inflation risks were fading. However, :the data that\u2019s come in over the last couple months suggests it has moved in the other direction,\u201d\u00a0he said.<\/p>\n
At the same time, the ongoing conflict between the U.S. and Iran could further intensify inflation risks through higher energy prices. With recent run of stronger inflation readings, \u201cthat certainly puts pause to any conclusion that we\u2019re done fighting this,\u201d he emphasized.<\/p>\n
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