(Finance) – I July data on consumer and producer prices published this week, which were lower than expected and showed moderation compared to the previous month, were “very welcome“This was stated by Tom Barkin, president of the Federal Reserve Bank of Richmond, during an interview with CNBC.
“So we are happy to see that inflation starts to go down,” he added, before noting that “I would like to see a period of inflation under sustained controland until we do that, I think we’ll just have to keep moving rates into restrictive territory. “
“I would like to see inflation reach our target, which is del 2% to the PCEand I’d like to see her reach the our goal for a period of time“, he said. The PCE price index gives an approximation to the measure of inflation and is closely monitored by the Federal Reserve to assess price trends.
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