By Michael S. Derby
(Reuters) – Federal Reserve Bank of Richmond President Thomas Barkin on Tuesday welcomed the retreat in inflation but refrained from saying how that affects his outlook for central bank interest rate policy next year, in an interview with Yahoo Finance.
“I think we’re nicely positioned now with a 3% inflation rate moving down, and a 3.7% unemployment rate staying relatively steady,” and whether the Fed can deliver on forecasts of rate cuts revealed at last week’s policy meeting depends on how the economy performs, Barkin said.
(Reporting by Michael S. Derby; Editing by Mark POrter)
