연준의 바킨(2027년 투표권자), 경제 수요는 견조하지만 일부 부문은 이를 체감하지 못한다고 말해

INFLATION: Says there are cost pressures on businesses. Says the set of cost pressures of the past 18 months, starting with tariffs, are broad-based and firms feel they have to pass them along. Do not anticipate inflation will accelerate, but also do not see it falling at this point. Inflation is the most important risk for the Fed right now. LABOUR MARKET Businesses are still cautious about hiring, but are not yet firing Earnings remains strong, and that is encouraging businesses to invest and hold on to staff ECONOMY: Demand in the economy is solid, but some sectors are not feeling it. Budget deficit is sizeable and fiscal policy over the past few years has been a tailwind for the economy. Do not have a point of view what will happen to fiscal policy following the election. PATH: Path on policy is straightforward, the issue now is pace, and gradual "makes sense". Policy right now is somewhere around neutral. AI: AI is a big part of current strong demand. Do not think AI is what is currently driving productivity as much as adaptation to the labour shortages that began during the pandemic. AI build-out has definitely had an inflationary impact in the near term. FED: Change in number of policy setting meetings is not a big deal.