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https://www.richmondfed.org/press_room/speeches/thomas_i_barkin/2025/barkin_speech_20250327


One can debate the pros and cons of these policies over the medium term, but, in the near term, the pace of change seems to have created a sense of instability. Business optimism has dropped.


"Consumer sentiment has fallen. The March edition of the Fed’s Beige Book, which summarizes each Reserve Bank’s outreach on economic conditions, literally broke the record for mentions of “uncertainty.”....... 


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