The U.S. is more vulnerable to inflationary shocks than in the past, Federal Reserve Bank of Richmond President Tom Barkin said in an interview with the Financial Times published on Thursday.
Barkin said he expected inflation to continue dropping across the U.S. while cautioning that businesses were passing on costs to consumers more readily than in the past.
“We’re somewhat more vulnerable to cost shocks on the inflation side, whether they be wage-[related] or otherwise than we might have been five years ago,” Barkin told the FT.
Jennifer Tacker is a staff writer at ABBO News. She holds a B.A. from the University of Waterloo and a B.Ed from Western University. Jennifer has been active in the stock market and crypto sector for a decade. She specializes in technical analysis and trading strategies. Read Full Bio
