Federal Reserve Member Barkin’s Significant Statements on Economy and Interest Rates Impact on Bitcoin (BTC) and Ethereum (ETH) Performance
- In a recent speech, FED member Thomas Barkin addressed the economic outlook and interest rates in the US.
- Richmond FED President Thomas Barkin expressed expectations that high interest rates would slow down the economy and reduce inflation to the central bank’s 2% target.
- Barkin warned of the risk of persistent inflation in housing and services potentially sustaining high price increases, as observed this year.
Richmond FED President Thomas Barkin discusses the impact of high interest rates on the US economy and the potential risks of persistent inflation.
Thomas Barkin on High Interest Rates and Economic Slowdown
Thomas Barkin, Richmond FED President and voting member in this year’s monetary policy, recently stated that the strong labor market provides the FED with an opportunity to reduce borrowing costs before inflation drops sustainably. However, he also warned of the risk of persistent inflation in housing and services, which could sustain high price increases, as observed this year.
Persistent Inflation and the Impact on the Economy
In his speech at the Columbia Rotary Club in South Carolina, Barkin expressed optimism that the current restrictive interest rate level could reduce demand and bring inflation back to the target. He noted that the full effect of high interest rates has not yet been seen. Despite this, sellers continue to try to increase prices and will do so until sign... Read the full article for FREE at COINOTAG!
