{"id":1666701,"date":"2022-09-30T12:53:08","date_gmt":"2022-09-30T16:53:08","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1666701"},"modified":"2022-09-30T12:53:17","modified_gmt":"2022-09-30T16:53:17","slug":"barkin-promising-signs-on-inflation-but-progress-wont-be-immediate","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/barkin-promising-signs-on-inflation-but-progress-wont-be-immediate\/","title":{"rendered":"Barkin: \u201cpromising signs\u201d on inflation but progress won\u2019t be immediate"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">20<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fbarkin-promising-signs-on-inflation-but-progress-wont-be-immediate%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1666701&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>By Howard Schneider<\/p>\n<p>WOODBRIDGE, Va. (Reuters) \u2013     There are \u201cpromising signs\u201d inflation pressures have begun to ease though it may take time be seen in the data, Richmond Fed president Thomas Barkin said on Friday.<\/p>\n<div id=\"div-gpt-ad-1663871513696-art-1\">\n<\/div>\n<p>\u201cCOVID seems to be moving into the rearview mirror. Supply shocks are easing\u2026Some large retailers have announced they are overstocked. Housing seems to be settling. Employers are having more hiring success\u2026We\u2019ve seen a broad range of commodities drop from peak pricing levels,\u201d Barkin said to the Prince William Chamber of Commerce in Virginia. Business executives \u201cstill view their increased pricing power as temporary. They see it as an episode, not a regime change.\u201d<\/p>\n<p>That has not, however, yet become apparent in high level inflation data, and Barkin said the Fed would \u201cpersist\u201d with interest rate increases and \u201cnot declare victory prematurely.\u201d\u201dInflation should come down. But I don\u2019t expect its drop to be immediate or predictable,\u201d Barkin said. \u201cWe\u2019ve been through multiple shocks\u2026and significant shocks simply take time to dampen.\u201d<\/p>\n<p>The Fed\u2019s preferred measure of inflation in August continued increasing at a 6.2% annual rate, more than triple the Fed\u2019s 2% target. A measure that removes volatile food and energy prices, sometimes considered a better measure of underlying price pressure, rose to 4.9% from 4.6%.<\/p>\n<p>The Fed last week approved its third consecutive three quarter point rate increase, and has now moved the target policy rate from near 0 as of March to a range between 3 and 3.25% in one of the fastest monetary policy shifts in decades.<\/p>\n<p>Further increases are expected in coming Fed meetings. <\/p>\n<p>Addressing criticism that the Fed\u2019s failure to raise rates earlier allowed inflation to become more persistent, Barkin said \u201cwith perfect hindsight, it would have made sense\u201d to raise rates earlier.<\/p>\n<p>\u201cIn theory, if monetary policy had been different enough, perhaps it could have made a difference. But how much faster would we have had to move to be in a demonstrably different place?,\u201d Barkin said. \u201cSick workers would still have had to stay home. Car manufacturers would still have been short chips. Russian oil and Ukrainian wheat supplies would still have been disrupted.\u201d<\/p>\n<p> (Reporting by Howard Schneider; Editing by Chizu Nomiyama)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/uncategorized\/barkin-promising-signs-on\/attachment\/file-photo-federal-reserve-bank-of-richmond-president-thomas-barkin\/\"><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/09\/tagreuters.com2022binary_LYNXMPEI8T0Y7-BASEIMAGE.jpg\" alt=\"tagreuters.com2022binary_LYNXMPEI8T0Y7-BASEIMAGE\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Howard Schneider WOODBRIDGE, Va. (Reuters) \u2013 There are \u201cpromising signs\u201d inflation pressures have begun to ease though it may take time be seen in the data, Richmond Fed president<\/p>\n","protected":false},"author":66,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1666701","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1666701","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1666701"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1666701\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1666701"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1666701"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1666701"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}