WILMINGTON, North Carolina (Reuters) - The U.S. central bank's fight to return inflation to its 2% target may take longer than expected to complete and limit how far interest rates can be cut, Richmond Federal Reserve President Thomas Barkin said on Wednesday. In an interview with Reuters, Barkin said he supported the half-percentage-point rate cut the Fed approved last month...

03:46 PM EDT, 10/02/2024 (MT Newswires) -- Inflation and the labor market in the US continue to pose significant uncertainty, with annual core prices unlikely to fall much further until next year, Tom Barkin, president of the Federal Reserve Bank of Richmond, said Wednesday. Last month, the central bank's Federal Open Market Committee lowered its benchmark lending rate by 50...

LAS VEGAS/RENO, Nevada (Reuters) - Two decades into her work as a unionized bartender in Reno, Nevada, Kristie Strejc has the comfort of job stability, her pick of the best shifts, and, unlike many in the hospitality industry, enough income that she'd actually benefit from plans floated by both U.S. presidential candidates to exempt tips from federal income tax. But...

02:55 PM EDT, 10/02/2024 (MT Newswires) -- Richmond Federal Reserve President Tom Barkin (voter) said that the Federal Open Market Committee's 50-basis-point rate reduction is a recalibration to a somewhat less restrictive stance and not a response to an economy in trouble, adding that it is too early to declare victory over inflation. Recent comments of note: (Sept. 30) Fed...