Thomas Barkin, president of the Federal Reserve Bank of Richmond, stated there is no current wage inflation despite ongoing price and wage pressures. His comments come as U.S. inflation remains above the Fed’s 2% target. Market expectations for a rate hike by September 2026 have dropped from 44% to 36% in the past 24 hours. The likelihood of a rate hike by October 2026 remains at 50.5%, reflecting continued uncertainty over the Fed’s monetary policy path.
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