Inflation Then and Now

Tom Barkin

Speech from Federal Reserve Bank of Richmond

Abstract: Labor market conditions remain solid, while inflation remains somewhat elevated. It makes sense to stay modestly restrictive until we are more confident inflation is returning to our 2 percent target. I recognize the fight against inflation has been long. But it is critical that we remain steadfast. It is tempting to focus on gaming out short-term factors, but it’s hard to make significant monetary policy changes amidst such uncertainty. So, I prefer to wait and see how this uncertainty plays out and how the economy responds.

Keywords: Business cycles; economic growth; inflation; monetary policy (search for similar items in EconPapers)
Date: 2025-02-25
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