Richmond Fed President Thomas Barkin noted that while the Fed has made strong progress so far, there’s still more work to be done to keep the momentum going.

Key Quotes

Fed is making great progress but needs to keep it going. 

There is still more demand for housing than supply. 

The better way to address housing imbalance at this point is to build more, not suppress demand. 

The current level of unemployment is fine, whether it is normalizing or weakening is something still to be determined. 

Companies still feel labor is short on a long-term basis, are not firing

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