Fed's Barkin says he wants to be patient on rate cuts

There is still some doubt on how sustainably inflation is coming down to the Federal Reserve's 2% target and it needs to become more broad based, Richmond Fed President Thomas Barkin said on Wednesday. "There is still a reasonable amount of uncertainty in what we're seeing," Barkin told an audience during an event held by The Economic Club of Washington.

There is still some doubt on how sustainably inflation is coming down to the Federal Reserve's 2% target and it needs to become more broad based, Richmond Fed President Thomas Barkin said on Wednesday.

"There is still a reasonable amount of uncertainty in what we're seeing," Barkin told an audience during an event held by The Economic Club of Washington. "I am very supportive of being patient to get to where we need to get. I see at this point the tradeoff, which is coming into better balance, is still being in favor of continuing to work on inflation."