Fed's Barkin calls for clarity on US economic policies and growth outlook

Federal Reserve Bank of Richmond President Thomas Barkin stated that central bank officials need more time to assess the US economy and inflation. This comes amid uncertainty regarding President Trump's policies, leading to expectations that interest rates will remain unchanged. Barkin noted that while employment and spending appear stable, business investment is uncertain. He emphasized the need for clarity on economic conditions before making any decisions on interest rates. Despite recent tariff actions by Trump, Fed officials are not rushing to adjust rates. Barkin mentioned that current economic data does not indicate an overheating economy, and inflation is trending downwards.