US Economy Strengthen, says Barkin

The American economy showed unexpected strength but the robust labor market did not trigger major wage pressures, according to the newest Fed Reserve’s regional President on Monday during his first major speech about monetary policy.

Richmond Fed president Thomas Barkin stated that the US economic health was really strong, showing a higher trend growth with low jobless rate and inflation at target. The statement was made at  George Mason University in Fairfax, Virginia and Barkin served as a voting member for the rate-setting committee of the Fed this year.

The Federal Reserve has a unanimous decision whether to approve interest rate hike in March, as there are speculations for another two increases in the current year while more policymakers assumed three hikes.