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President of the Federal Reserve Bank of Richmond Barkin  has crossed the wires and said that the  recent rate cuts do not mean the Fed is in a prolonged easing cycle.

Key comments:

  • The US labor market is very strong while consumers are confident.
  • Uncertainty related to trade and weaker growth overseas both pose headwinds.
  • Trade uncertainty, weaker growth abroad pose headwinds.
  • US economy giving Fed conflicting signals.