In a Bloomberg interview, Richmond Fed President Thomas Barkin rejected the idea that a July rate cut is a done deal. He emphasized “we have a lot of time left before the meeting, we’ll see what happens.”
For now, he said the economy was not heading to a recession. He added “I actually still feel pretty good about the economy… I don’t see any issues on the consumer side of the house”.
Though, risks to outlook is “a little more tilted to the downside” for fragile business confidence. Indicators for second-quarter growth are less strong.