What’s Next for the Economy?

Tom Barkin

Speech from Federal Reserve Bank of Richmond

Abstract: We’ve come a long way quickly, but the job isn’t done. Inflation remains too high. There is an unusually wide range of potential paths for the economy going forward — from resurgence to soft landing to recession. What path do I see? I do anticipate some sort of a slowdown. I see that slowing as part of what it takes to bring inflation back to target. Price setters need to be convinced. Whether a slowdown that settles inflation requires more from us remains to be seen. We have time to reconcile competing narratives on demand and to test different views on the trajectory of inflation.

Keywords: business cycles; economic growth; inflation; monetary policy (search for similar items in EconPapers)
Date: 2023-11-09
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