Fed's Barkin: FOMC has time to see data before deciding what’s next for rates

Federal Reserve Bank of Richmond President Thomas Barkin stated earlier on Friday that the Fed holding steady at the September FOMC meeting was appropriate

Key quotes

“Fed holding steady at the September FOMC meeting was appropriate”

“Fed has time to see data before deciding what’s next for rates”

“The path forward depends on what happens with inflation”

“Will be watching the job market closely for clues”

“Cautions against reading too much into Federal Reserve forecasts”

“The job market has remained very healthy”

“Not sure how the economy will perform over coming months”

“There is still a lot of uncertainty about how the Fed's balance sheet influences the economy”

Market reaction

The US Dollar stays on the back foot after this comment, As of writing, the US Dollar Index was unchanged on the day at 106.14.