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Richmond Fed president Tom Barkin said Friday that he expects inflation will continue to drop into next year — stickier inflation data aside — and hinted at slowing down the pace of rate cuts.
Federal Reserve Bank of Richmond President Thomas Barkin. ... The Atlanta Fed forecasts inflation to decelerate to 2.5% by the end of 2024 and closer to 2% by the end of 2025. ... USA TODAY Sports.
The S&P 500 sunk 2.9%. Among the key signals from the Fed include a higher terminal interest rate projection of 3% rather than 2.875%, and an increased inflation forecast of 2.5% next year. Both ...
Economists have raised their inflation forecasts since U.S. President Donald Trump was elected, based on concerns his policies, particularly on tariffs, could re-ignite price pressures in the economy.
The path to the Fed’s 2% inflation target was expected to be long and bumpy, and it has been a little choppy the past couple of months, prompting the central bank to take a more cautious ...
The Federal Reserve has been battling inflation since March 2022, when it began ratcheting up rates to cool the economy, eventually pushing its benchmark rate to its highest level in 23 years.
A fresh check on prices. Inflation's trajectory remains crucial to the Fed's rate-cutting timeline, and markets will get an update on any progress on Friday with the release of the Personal ...
Richmond Fed President Tom Barkin said it would be smart for the central bank to "take our time" on rate cuts, becoming the latest official to urge patience on the easing of monetary policy.