Fed Governor Barr says DoJ probe is an assault on the independence of the Fed; Fed is acting only for economic reasons and according to its congressional mandate
Importance
Level 1
- Barr said benchmark interest rates are at the right level, equally balancing risks to inflation and the job market.
- "A reasonable base case is that the labor market is continuing to stabilize, and that inflation will continue to come down to 2%,"
- Is taking a wait-and-see approach, and said he'll continue to assess the data.
- "Until the spring, we're going to have effects of the government shutdown playing into biases in the data for technical reasons... So we have to try and make adjustments for that,"
- "We need to treat the data, you know, with some caution. And that will play through really into the spring."
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