Federal Reserve Bank of Richmond President Thomas Barkin stated on Friday during an interview with CNBC that the central bank is "well positioned" to respond effectively, no matter how the economy unfolds in 2025.
"The Fed is well positioned to respond regardless of how the economy develops," the central banker added. "Baseline outlook for 2025 is positive, with more upside than downside risk to growth"
Barkin added that he believes the central bank's current level of interest rates remains restrictive enough to lower inflation in 2025. However, he also warned that there is still "more work to do" before prices fall down to the 2% target.
