Barkin: Rate cuts support the job market, inflation task still to be completed

According to Jinshi News, Richmond Fed President Barkin stated that the Federal Reserve's rate-cutting measures help ensure the health of the labor market while working to complete the "last mile" of bringing inflation back to the 2% target. He noted that the unemployment rate remains at historically low levels, and inflation is currently about 1 percentage point above the target, but is expected to decline in the coming months. Barkin anticipates that the economy will remain resilient in 2026, with businesses confident in sustained demand.