Assessing Operational Changes and New Proposals

Federal Reserve Bank of Richmond President Tom Barkin said unemployment and inflation have moved away from the US central bank's goals. Barkin stated that the downside risk for both unemployment and inflation is limited, and the bank will adjust its stance as it learns more. Barkin said the recent rate cut moves Fed policy closer to a level that neither stimulates nor restricts the US economy, which should help support the labor market while maintaining pressure on inflation. He speaks with Bloomberg's Michael McKee

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