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Navigating Data Whiplash

Author

Listed:
  • Tom Barkin

Abstract

Data matter for policy, and with this data whiplash over the last few months, it is natural to wonder whether we are experiencing a real shift in the economic outlook, or merely one of the bumps we said we expected along the way. Despite my concerns about demand and inflation, I am optimistic that today’s restrictive level of rates can take the edge off demand in order to bring inflation back to our target. We have said we want to gain greater confidence that inflation is moving sustainably toward our 2 percent target. And given a strong labor market, we have time to gain that confidence.

Suggested Citation

  • Tom Barkin, 2024. "Navigating Data Whiplash," Speech 101227, Federal Reserve Bank of Richmond.
    • Handle: RePEc:fip:r00034:101227
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    File URL: https://www.richmondfed.org/press_room/speeches/thomas_i_barkin/2024/barkin_speech_20240506
    File Function: Speech
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