Barkin is a good barometer for the core of the Fed:
- Inflation is above target but isn’t likely to increase due to consumer push-back and productivity increases
- Job growth is down but labor supply is also slowing
- There is a lot to learn between now and Dec 10 Fed meeting
The market is back to nearly 50/50 for the December meeting after falling to 38% yesterday
Fed’s Barkin says he hopes coming data will clarity direction of economy