Fed/Barkin: "Interest rate cut does not mean the fight against inflation is over."

◻️Richmond Fed President Thomas Barkin said that the US Federal Reserve's half-point interest rate cut last month was consistent with the economic outlook, but that it did not mean the fight against inflation was over.

◼️Barkin stated that although inflation continues to fall, a significant decline in core inflation is not expected until next year.

◻️A 25 basis point interest rate cut is also expected at the meeting on November 6-7. Barkin says that interest rates may become less restrictive once the unemployment rate reaches a sustainable level.

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