Richmond Fed President Tom Barkin said Friday that his 2025 baseline expectation for the US economy is positive amid strong consumer spending, though there are risks on the inflation front. Last month,

Richmond Fed President Tom Barkin said Friday his outlook for the economy is positive, with continued growth and price-sensitive consumers helping lower inflation. But he quickly added that there is a more risk that inflation pressures pick up rather than subside.

A top Federal Reserve official has warned about the threat of resurgent US inflation after Donald Trump takes power, even as he forecast solid growth for the world’s largest economy overall. Richmond Fed president Tom Barkin said Americans were still spending freely,