Nov 12 (Reuters) - With inflation close to the Federal Reserve's 2% target, the labor market resilient, and the U.S. central bank in the process of lowering borrowing costs, policymakers are ready to respond if inflation pressures rise or the job market weakens, Richmond Fed President Thomas Barkin said on Tuesday.

Federal Reserve Bank of Richmond President Thomas Barkin said the economy is in a good place, which has allowed the US central bank to lower borrowing costs.

With inflation close to the Federal Reserve's 2% target, the labor market resilient, and the U.S. central bank in the process of lowering borrowing costs, policymakers are ready to respond if inflation pressures rise or the job market weakens,

Federal Reserve Bank of Minneapolis President Neel Kashkari said the US economy has remained remarkably strong as the central bank progressed in beating back inflation, but the Fed was still “not all the way home.

A higher neutral rate could limit interest rates’ decline, Minneapolis Federal Reserve President Neel Kashkari said.

Minneapolis Fed President Neel Kashkari said Tuesday the Federal Reserve could hold off on an interest rate cut in December if inflation data comes in hotter than expected. In an interview with Yahoo Finance,