Federal Reserve Bank of Richmond President Thomas Barkin: Risks are tilted toward inflation. The direction of monetary policy is clear, but we must proceed cautiously.

• 🏭💵 Barkin noted that the economy is remarkably stable and that companies are seeking to pass higher costs on to consumers, while the dollar index falls 0.44% to 101.83 and gold rises 0.9% to $4,106.

📊 News impact: Supports cautious rate hikes
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