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15 Jan 2025

Fed’s Barkin: Inflation is coming down

Richmond Federal Reserve President Thomas Barkin remarked on Wednesday that December’s US inflation data suggests price pressures are continuing to ease. His comments came after a government report revealed that a key underlying measure of price increases had slowed during the month.

Key Quotes

Inflation is coming down towards 2% target 

Says he can see paths where inflation is sticky or continues to progress towards target 

Says he was encouraged by the unemployment rate in December 

Seems the job market has stabilized 

Not much to support arguments that the economy is growing weaker 

Says he is not concerned about overheating economy right now; demand is solid but not booming 

Long rates right now are consistent with early 2000s, which was not a restrictive time for business 

Says he has not seen anything in long rates that would influence Fed policy at this point 

Regarding incoming Trump administration's policies, the direction of travel may be clear on things like tariffs but the details are not 

Businesses generally saying that price-setting behavior is moving to pre-pandemic patterns 

Jan 15, 2025

United States EIA Crude Oil Stocks Change came in at -1.962M below forecasts (-1.6M) in January 10

United States EIA Crude Oil Stocks Change came in at -1.962M below forecasts (-1.6M) in January 10
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Jan 15, 2025

EUR/USD Price Analysis: Pair stalls near 20-day SMA despite mild bounce

EUR/USD managed a modest rise to around 1.0335 on Wednesday, extending a cautious bid despite struggling to firmly overtake the 20-day Simple Moving Average (SMA).
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