According to Odaily, Richmond Federal Reserve President and 2024 FOMC voting member, Thomas Barkin, stated that the Federal Reserve has time to assess whether the U.S. economy is normalizing or weakening. If the latter occurs, it would necessitate stronger actions from officials. Barkin emphasized the importance of evaluating the economic situation carefully before making any decisions.Kansas City Federal Reserve President, Esther George, noted that despite inflation exceeding targets, the labor market remains healthy. However, she is not yet ready to support a rate cut. Known for her hawkish stance, George highlighted the need for cautious assessment of progress, given that inflation surged to multi-decade highs two years ago. She stressed the importance of focusing on the worst-case scenarios in the data rather than the best-case scenarios.
