Fed's Barkin: Never count disinflationary forces out

"I don’t want to declare a long-term shift in the prevailing winds when we still don’t know exactly how the pandemic era will play out," Richmond Fed President Thomas Barkin said at an Atlanta Fed technology conference. "Never count disinflationary forces out."

"Over the last 10 years, our inflation and employment goals have not been in conflict while making policy," Barkin explained, as reported by Reuters. "We will need to be crystal clear that a growing economy and maximum employment require stable prices and that we will remain committed to addressing inflationary gusts."

Market reaction

These comments failed to help the greenback find demand and the US Dollar Index was last seen losing 0.42% on the day at 111.70.