According to Odaily Planet Daily, Fed Chairman Barkin said that the economy is in good shape, allowing the Fed to lower borrowing costs. Strong but more discerning consumers and a more productive workforce are driving the economy forward.
In a speech at the Baltimore Common Summit, Barkin noted that the Fed has the ability to respond appropriately no matter how the economy develops. He mentioned that interest rates have come off their peak but are still above historical lows.
Barkin considered two economic scenarios: Businesses could reinvest and hire after election uncertainty fades, or they could respond to squeezed profit margins by cutting jobs, which would increase the employment risks facing the Fed.