Richmond Federal Reserve Bank president Thomas Barkin said on Tuesday that he believes the U.S. central bank is nicely positioned with a 3% inflation rate moving down and a 3.7% unemployment rate staying relatively steady.
The official also noted that the Fed is making good progress on inflation and he thinks that just makes the case to balance the perspective between both sides of the mandate - inflation and employment.
However, Barkin emphasized that the Fed is not yet done with price pressures, but he hopes to see that the numbers will come down over the coming months.
Additionally, Richmond Fed's boss stated that if inflation comes down nicely, the Fed would respond appropriately.