The strength of the US economy makes it harder to argue in favour of lower rates, said the president of the Federal Reserve Bank of Richmond, Thomas Barkin, on August 8.
“It is difficult to argue that lower than normal rates are appropriate when unemployment is low and inflation is effectively at the Fed’s target,” Barkin said in a speech in Roanoke, Virginia. “Given the strength of the underlying economy and the recent additional fiscal stimulus, the risk of normalisation is reduced.”
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