Fed’s Barkin says he is hearing concerns about economic growth

RALEIGH, N.C. (Reuters) – Richmond Federal Reserve President Thomas Barkin said on Thursday that his contacts are worried about how long strong U.S. economic growth can continue, comments that reinforce the increasingly cautious stance by monetary policymakers.

Barkin said he expects growth to continue, though at a somewhat slower pace, and he forecast “trend” growth as only in the 1.9 percent range.

“I forecast growth to continue this year, though at a somewhat slower pace,” Barkin said in remarks prepared for delivery to the Greater Raleigh Chamber of Commerce in North Carolina.

“But as we enter 2019, I hear a lot of concern. Some is environmental, driven by trade, international economies or politics. Some is market driven, as volatility has increased and the yield curve has narrowed. Some is margin pressure. But overall, the question I hear most is, ‘How long can this growth continue?'”

Barkin does not have a vote on the central bank’s monetary policy this year but participates in the Fed’s discussions.

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