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Barkin says Fed needs ‘a few more months’ to see clear picture of inflation, labor market -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO – President Thomas Barkin of the Federal Reserve Bank of Richmond poses for a photo during a lunch break at the Dallas Fed Conference on Technology in Dallas (Texas), U.S.A, May 23, 2019. REUTERS/Ann Saphir/File Photo

WASHINGTON (Reuters] – The Federal Reserve may need to wait several months for it to figure out if labor shortages and high inflation are a consequence of the pandemic. Richmond Federal Reserve President Thomas Barkin indicated Monday that the Federal Reserve will have to continue to monitor the situation.

Barkin indicated on Yahoo Finance that while the Fed won’t hesitate to raise interest rates when it determines high inflation is likely to continue, “it is useful for us to have some more months to evaluate if inflation is going back to an more normal level.” What is the outlook for the future of the labor market? … “It is useful to take some time and see the reality.”

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