11/29/2023, 5:06 PM (Source: TeleTrader)
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Fed's Barkin: 2024 election not affecting monetary policy

Federal Reserve Bank of Richmond President Thomas Barkin said on Wednesday that the 2024 United States presidential election is not impacting the central bank's monetary policy decisions.

Barkin also acknowledged in a discussion at the CNBC CFO Council Summit, that consumer spending is weakening and that inflation in the housing sector remains high, while wages are primarily behind price growth in services.

Another interest rate hike cannot be excluded as the Fed has to have that option in case inflation rises again, while it is too soon to discuss rate cuts, he pointed out.

Baha Breaking News (BBN) / MS