Federal Reserve's Barkin: Will Consider Rate Cut if Inflation Progress Persists

According to reports, Federal Reserve's Barkin has stated that if recent progress in inflation persists, the Federal Reserve will consider a rate cut. He is still looking for confidence that inflation will return to the Fed's 2% target. In an interview, he mentioned that if they believe inflation is going to come down in a stable way, they would certainly react appropriately. He anticipates "consistency and breadth" in inflation data over the coming months and added that he believes labor demand and inflation are normalizing. Barkin stated that he wouldn't assume what the data will bring. His perspective is that inflation is more stubborn than generally expected, but he hopes his view is wrong.