Richmond Fed President Tom Barkin and Chicago Fed President Austan Goolsbee shared optimistic yet cautious views on the state of inflation and the economic outlook during a panel discussion on Wednesday.

Barkin highlighted significant progress being made in the battle against inflation. However, Goolsbee pointed out that the Fed is encountering more complex trade-offs this year than last, suggesting a potentially more challenging path ahead in balancing economic growth with inflation control.

The officials’ comments come as the market is keenly observing the Fed’s policy direction, with particular attention to its impact on inflation trends.

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