Federal Reserve Bank of Richmond Governor Tom Barkin said that due to the double pressure of rising unemployment and high inflation, the current monetary policy outlook is still in a delicate balance. Barkin pointed out that last year's cumulative policy easing of 75 basis points has brought the current interest rate level into the estimated range of so-called neutral interest rates. He likened this move to “buying a guarantee.” “But looking forward to the future, the formulation of monetary policy needs to be carefully judged to balance the progress of the two major goals of our policy mission.” Barkin said this in a speech prepared for an event hosted by the Raleigh Chamber of Commerce on Tuesday.

Federal Reserve Bank of Richmond Governor Tom Barkin said that due to the double pressure of rising unemployment and high inflation, the current monetary policy outlook is still in a delicate balance. Barkin pointed out that last year's cumulative policy easing of 75 basis points has brought the current interest rate level into the estimated range of so-called neutral interest rates. He likened this move to “buying a guarantee.” “But looking forward to the future, the formulation of monetary policy needs to be carefully judged to balance the progress of the two major goals of our policy mission.” Barkin said this in a speech prepared for an event hosted by the Raleigh Chamber of Commerce on Tuesday.