Richmond Fed President Tom Barkin says recent rate cuts support labor market stability
Richmond Fed President Tom Barkin said recent interest rate cuts helped the labor market as the central bank works toward a two percent inflation target.
[tom barkin] stated that the Federal Reserve System has cut interest rates by 1.75 percentage points since the fall of 2024. In remarks prepared for delivery to a South Carolina education group on Tuesday, the president of the Federal Reserve Bank of Richmond explained that these policy moves have effectively taken out some insurance to support the labor market. [tom barkin] noted that the [
US] labor market maintains an unemployment rate that remains low by historical standards.
US] labor market maintains an unemployment rate that remains low by historical standards.
