Federal Reserve Bank of Richmond President Tom Barkin said on Monday that he doesn’t see a fundamental shift in inflation expectations in the United States. Barkin noted that profound disinflationary pressures exist but that the Fed has shown it has tools to counter an undesirable increase in inflation. Last summer, the Fed changed its monetary policy from target inflation of 2% to an inflation target of 2.5% on average. Nick Note: the pandemic is over and the economy is back. And we will enter a deflation. the stimulus and psychology of set the captives free will create the greatest spending orgy ever. And stock market rally. The Fed Chairman is due to give his semi annual testimony tomorrow and the markets will hang on his every word.