{"id":31081,"date":"2023-10-17T23:00:41","date_gmt":"2023-10-17T23:00:41","guid":{"rendered":"https:\/\/prosfunds.com\/news\/feds-barkin-sees-plausible-story-that-slowing-economy-is-working-to-bring-inflation-back-to-2-target\/"},"modified":"2023-10-17T23:00:43","modified_gmt":"2023-10-17T23:00:43","slug":"feds-barkin-sees-plausible-story-that-slowing-economy-is-working-to-bring-inflation-back-to-2-target","status":"publish","type":"post","link":"https:\/\/prosfunds.com\/?p=31081","title":{"rendered":"Fed\u2019s Barkin sees \u2018plausible story\u2019 that slowing economy is working to bring inflation back to 2% target"},"content":{"rendered":"
\n

The U.S. economy may be softer than the data suggest and this weakness may be helping to moderate inflation pressure, said Richmond Fed President Tom Barkin said Tuesday.<\/p>\n

\u201cThere\u2019s a story \u2014 a plausible story \u2014 that weakening demand is already working to bring inflation down to 2%,\u201d Barkin said in a speech to the Real Estate Roundtable in Washington DC.<\/p>\n

\n

While retail sales were strong in September and estimates of third quarter GDP are being revised higher, Barkin said that business contacts are telling him that demand \u201cis softening.\u201d<\/p>\n

Lower-income consumers are \u201cstretched thin\u201d and middle-income consumers are trading down, he said.<\/p>\n

At the same time, the labor market is \u201ccoming into better balance\u201d and wage pressure has moderated.<\/p>\n

\u201cThe question is how much of this softening is feeding through to inflation,\u201d Barkin said,<\/p>\n

Most, but not all, businesses think that the \u201cperiod of major pricing power is behind them,\u201d he said. <\/p>\n

Barkin said the path for inflation \u201cisn\u2019t yet clear\u201d and there is a wide range for potential outcomes for the economy,<\/p>\n

The Fed \u201cis walking a fine line\u201d trying not to overcorrect and damage the economy or \u201cundercorrect \u201cand allow inflation to re-emerge.<\/p>\n

In comments to reporters after his speech, Barkin said the September retail sales report, which showed two straight solid gains, was \u201cstrikingly strong.\u201d<\/p>\n

\u201cThe data is stronger than what I\u2019m seeing,\u201d he said, adding that he might have to rethink his outlook.<\/p>\n

On the September inflation data, Barkin said the pickup in core was \u201ca little higher than you would like.\u201d<\/p>\n

\u201cYou can\u2019t take any one report too definitively. I think you have to accept the six reports before that report were strikingly good,\u201d Barkin said.<\/p>\n

Asked about the rise in the 10-year Treasury note yield
\n BX:TMUBMUSD10Y,<\/span>
\n Barkin said the increase has tightened financial conditions but that long-term rates were not a policy variable because they can move so quickly. <\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The U.S. economy may be softer than the data suggest and this weakness may be helping to moderate inflation pressure, said Richmond Fed President Tom Barkin said Tuesday. \u201cThere\u2019s a story \u2014 a plausible story \u2014 that weakening demand is already working to bring inflation down to 2%,\u201d Barkin said in a speech to the […]<\/p>\n","protected":false},"author":1,"featured_media":31082,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","footnotes":""},"categories":[38],"tags":[],"class_list":{"0":"post-31081","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-news"},"yoast_head":"\nFed\u2019s Barkin sees \u2018plausible story\u2019 that slowing economy is working to bring inflation back to 2% target | Prosfunds<\/title>\n<meta name=\"description\" content=\"The U.S. economy may be softer than the data suggest and this weakness may be helping to moderate inflation pressure, said Richmond Fed President Tom\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/prosfunds.com\/?p=31081\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Fed\u2019s Barkin sees \u2018plausible story\u2019 that slowing economy is working to bring inflation back to 2% target | Prosfunds\" \/>\n<meta property=\"og:description\" content=\"The U.S. economy may be softer than the data suggest and this weakness may be helping to moderate inflation pressure, said Richmond Fed President Tom\" \/>\n<meta property=\"og:url\" content=\"https:\/\/prosfunds.com\/?p=31081\" \/>\n<meta property=\"og:site_name\" content=\"Prosfunds\" \/>\n<meta property=\"article:published_time\" content=\"2023-10-17T23:00:41+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-10-17T23:00:43+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/prosfunds.com\/wp-content\/uploads\/2023\/10\/1697583642_social.jpeg\" \/>\n\t<meta property=\"og:image:width\" content=\"1279\" \/>\n\t<meta property=\"og:image:height\" content=\"640\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"News Room\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"News Room\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/prosfunds.com\/?p=31081#article\",\"isPartOf\":{\"@id\":\"https:\/\/prosfunds.com\/?p=31081\"},\"author\":{\"name\":\"News Room\",\"@id\":\"https:\/\/prosfunds.com\/#\/schema\/person\/bab8f1b00ccebe43e39ff640793108e6\"},\"headline\":\"Fed\u2019s Barkin sees \u2018plausible story\u2019 that slowing economy is working to bring inflation back to 2% target\",\"datePublished\":\"2023-10-17T23:00:41+00:00\",\"dateModified\":\"2023-10-17T23:00:43+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/prosfunds.com\/?p=31081\"},\"wordCount\":342,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/prosfunds.com\/#organization\"},\"articleSection\":[\"News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/prosfunds.com\/?p=31081#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/prosfunds.com\/?p=31081\",\"url\":\"https:\/\/prosfunds.com\/?p=31081\",\"name\":\"Fed\u2019s Barkin sees \u2018plausible story\u2019 that slowing economy is working to bring inflation back to 2% target | Prosfunds\",\"isPartOf\":{\"@id\":\"https:\/\/prosfunds.com\/#website\"},\"datePublished\":\"2023-10-17T23:00:41+00:00\",\"dateModified\":\"2023-10-17T23:00:43+00:00\",\"description\":\"The U.S. economy may be softer than the data suggest and this weakness may be helping to moderate inflation pressure, said Richmond Fed President Tom\",\"breadcrumb\":{\"@id\":\"https:\/\/prosfunds.com\/?p=31081#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/prosfunds.com\/?p=31081\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/prosfunds.com\/?p=31081#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/prosfunds.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Fed\u2019s Barkin sees \u2018plausible story\u2019 that slowing economy is working to bring inflation back to 2% target\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/prosfunds.com\/#website\",\"url\":\"https:\/\/prosfunds.com\/\",\"name\":\"Funding Factories\",\"description\":\"Latest Finance News and Updates\",\"publisher\":{\"@id\":\"https:\/\/prosfunds.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/prosfunds.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/prosfunds.com\/#organization\",\"name\":\"Funding Factories\",\"url\":\"https:\/\/prosfunds.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/prosfunds.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/prosfunds.com\/wp-content\/uploads\/2023\/08\/ff-dark-logo-1.png\",\"contentUrl\":\"https:\/\/prosfunds.com\/wp-content\/uploads\/2023\/08\/ff-dark-logo-1.png\",\"width\":780,\"height\":140,\"caption\":\"Funding Factories\"},\"image\":{\"@id\":\"https:\/\/prosfunds.com\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/prosfunds.com\/#\/schema\/person\/bab8f1b00ccebe43e39ff640793108e6\",\"name\":\"News Room\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/prosfunds.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/prosfunds.com\/wp-content\/uploads\/2023\/08\/avatar_user_1_1693518183-96x96.png\",\"contentUrl\":\"https:\/\/prosfunds.com\/wp-content\/uploads\/2023\/08\/avatar_user_1_1693518183-96x96.png\",\"caption\":\"News Room\"},\"sameAs\":[\"https:\/\/prosfunds.com\"],\"url\":\"https:\/\/prosfunds.com\/?author=1\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Fed\u2019s Barkin sees \u2018plausible story\u2019 that slowing economy is working to bring inflation back to 2% target | Prosfunds","description":"The U.S. economy may be softer than the data suggest and this weakness may be helping to moderate inflation pressure, said Richmond Fed President Tom","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/prosfunds.com\/?p=31081","og_locale":"en_US","og_type":"article","og_title":"Fed\u2019s Barkin sees \u2018plausible story\u2019 that slowing economy is working to bring inflation back to 2% target | Prosfunds","og_description":"The U.S. economy may be softer than the data suggest and this weakness may be helping to moderate inflation pressure, said Richmond Fed President Tom","og_url":"https:\/\/prosfunds.com\/?p=31081","og_site_name":"Prosfunds","article_published_time":"2023-10-17T23:00:41+00:00","article_modified_time":"2023-10-17T23:00:43+00:00","og_image":[{"width":1279,"height":640,"url":"https:\/\/prosfunds.com\/wp-content\/uploads\/2023\/10\/1697583642_social.jpeg","type":"image\/jpeg"}],"author":"News Room","twitter_card":"summary_large_image","twitter_misc":{"Written by":"News Room","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/prosfunds.com\/?p=31081#article","isPartOf":{"@id":"https:\/\/prosfunds.com\/?p=31081"},"author":{"name":"News Room","@id":"https:\/\/prosfunds.com\/#\/schema\/person\/bab8f1b00ccebe43e39ff640793108e6"},"headline":"Fed\u2019s Barkin sees \u2018plausible story\u2019 that slowing economy is working to bring inflation back to 2% target","datePublished":"2023-10-17T23:00:41+00:00","dateModified":"2023-10-17T23:00:43+00:00","mainEntityOfPage":{"@id":"https:\/\/prosfunds.com\/?p=31081"},"wordCount":342,"commentCount":0,"publisher":{"@id":"https:\/\/prosfunds.com\/#organization"},"articleSection":["News"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/prosfunds.com\/?p=31081#respond"]}]},{"@type":"WebPage","@id":"https:\/\/prosfunds.com\/?p=31081","url":"https:\/\/prosfunds.com\/?p=31081","name":"Fed\u2019s Barkin sees \u2018plausible story\u2019 that slowing economy is working to bring inflation back to 2% target | Prosfunds","isPartOf":{"@id":"https:\/\/prosfunds.com\/#website"},"datePublished":"2023-10-17T23:00:41+00:00","dateModified":"2023-10-17T23:00:43+00:00","description":"The U.S. economy may be softer than the data suggest and this weakness may be helping to moderate inflation pressure, said Richmond Fed President Tom","breadcrumb":{"@id":"https:\/\/prosfunds.com\/?p=31081#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/prosfunds.com\/?p=31081"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/prosfunds.com\/?p=31081#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/prosfunds.com\/"},{"@type":"ListItem","position":2,"name":"Fed\u2019s Barkin sees \u2018plausible story\u2019 that slowing economy is working to bring inflation back to 2% target"}]},{"@type":"WebSite","@id":"https:\/\/prosfunds.com\/#website","url":"https:\/\/prosfunds.com\/","name":"Funding Factories","description":"Latest Finance News and Updates","publisher":{"@id":"https:\/\/prosfunds.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/prosfunds.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/prosfunds.com\/#organization","name":"Funding Factories","url":"https:\/\/prosfunds.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/prosfunds.com\/#\/schema\/logo\/image\/","url":"https:\/\/prosfunds.com\/wp-content\/uploads\/2023\/08\/ff-dark-logo-1.png","contentUrl":"https:\/\/prosfunds.com\/wp-content\/uploads\/2023\/08\/ff-dark-logo-1.png","width":780,"height":140,"caption":"Funding Factories"},"image":{"@id":"https:\/\/prosfunds.com\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/prosfunds.com\/#\/schema\/person\/bab8f1b00ccebe43e39ff640793108e6","name":"News Room","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/prosfunds.com\/#\/schema\/person\/image\/","url":"https:\/\/prosfunds.com\/wp-content\/uploads\/2023\/08\/avatar_user_1_1693518183-96x96.png","contentUrl":"https:\/\/prosfunds.com\/wp-content\/uploads\/2023\/08\/avatar_user_1_1693518183-96x96.png","caption":"News Room"},"sameAs":["https:\/\/prosfunds.com"],"url":"https:\/\/prosfunds.com\/?author=1"}]}},"_links":{"self":[{"href":"https:\/\/prosfunds.com\/index.php?rest_route=\/wp\/v2\/posts\/31081","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/prosfunds.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/prosfunds.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/prosfunds.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/prosfunds.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=31081"}],"version-history":[{"count":1,"href":"https:\/\/prosfunds.com\/index.php?rest_route=\/wp\/v2\/posts\/31081\/revisions"}],"predecessor-version":[{"id":31083,"href":"https:\/\/prosfunds.com\/index.php?rest_route=\/wp\/v2\/posts\/31081\/revisions\/31083"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/prosfunds.com\/index.php?rest_route=\/wp\/v2\/media\/31082"}],"wp:attachment":[{"href":"https:\/\/prosfunds.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=31081"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prosfunds.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=31081"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prosfunds.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=31081"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}