Richmond Federal Reserve bank president Thomas Barkin said on Friday it would ta...
FILE PHOTO: Federal Reserve Bank of Richmond President Thomas Barkin poses during a break at a Dallas Fed conference on technology in Dallas, Texas, U.S., May 23, 2019. REUTERS/Ann Saphir/File Photo
BALTIMORE - Richmond Federal Reserve bank president Thomas Barkin said on Friday it would take a “substantial” change in the economic outlook for him to support a rate change. Barkin said the U.S. economy is steady after the Fed cut interest rates three times in 2019 to ward off the risks of the trade war with China and the global economic slowdown and that policymakers should be patient before making further changes.
“I want to see the impact of this before deciding to do something else,” Barkin said after speaking to a group of bankers in Baltimore about his economic outlook. Fed officials agreed unanimously to leave interest rates on hold at last month’s policy meeting after cutting rates three times in 2019.
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The Fed Has Quietly Started QE4I am a financial writer, publisher, and New York Times bestselling-author. Each week, nearly a million readers around the world receive my Thoughts From the Frontline free investment newsletter. \n\nMy most recent book is Code Red: How to Protect Your Savings from the Coming Crisis. I appear regularly on CNBC and Bloomberg TV. I’m also Chairman of Mauldin Economics, a research group that provides monthly analysis and recommendations to thousands of readers around the world.\n\nI was previously CEO of the American Bureau of Economic Research. Today I am President of the investment advisory firm Millennium Wave Advisors, LLC. I am also president and registered principal of Millennium Wave Securities, LLC a FINRA and SIPC registered broker dealer.\n\nWhen I’m not traveling to speak at conferences and events, I live in Dallas, TX. I’m also the proud father of seven children.
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