5/3, 9:52 PM (Source: TeleTrader)
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Fed's Barkin expects price pressure this year

Richmond Federal Reserve President Tom Barkin said in an interview on Monday that he is expecting to see price pressure this year and is watching inflation estimates very closely.

Barkin explained that inflation expectations have now firmed, but there hasn't been a sign of a breakout inflation yet, most likely because the economy so far hasn't reached that level.

The Fed official said he is encouraged by the drop in numbers of fatalities and hospitalizations due to the COVID-19 virus, but he doesn't necessarily tie the Fed's policy directly to the vaccination progress.

Breaking the News / LH