Richmond Fed President Barkin: Recession predictions are not supported by current data
Richmond Fed president addresses recession concerns
President of the Federal Reserve Bank of Richmond Thomas Barkin analyzes the latest economic data and consumer spending levels on ‘The Claman Countdown.’
Despite mounting inflation concerns, Richmond Fed President Tom Barkin said that there are no signs of an imminent recession in the economic data or in the behavior of company executives.
Speaking on "The Claman Countdown" on Wednesday, Barkin said that he has yet to find concrete evidence that would support predictions of a devastating economic downturn in the U.S. over the course of next year.
"As I talk to businesses, they are talking about the risk of recession, but then I always ask the follow-up question, which is are you changing what you do? And right now, what I’m still hearing is people investing, consumer spending, you can’t find a recession in the data, and you can’t find it in the actions of executives," he said.