⚡ Barkin from the Federal Reserve indicates economic caution as inflation and financial pressure continue ⚡🆕🏛️
- Richmond Fed President Thomas Barkin pointed to ongoing uncertainty in the U.S. economy, noting weak business activity and financial burdens, as well as inflation expectations affecting sentiment.
- While consumer spending remains resilient at the moment, policymakers are closely monitoring evolving data.
⚡ Key Takeaways ⚡
» The published data shows that the economy is on the same path as in the past year or two.
» Businesses continue to largely avoid risk.
» Cuts in government spending are affecting employment and job announcements, particularly in the Washington D.C. area.
» Consumers expect inflation, which has affected sentiment, and there is no evidence so far that this has translated into lower spending.
» We are waiting to see what happens with inflation and jobs.
