Richmond Federal Reserve bank president Tom Barkin said disinflation now seems to be broadening through the economy, with housing cost increases beginning to slow, but wants more data that it will be sustained.

"I have been very encouraged...both by the last couple months of non-housing services and by what might be the start on the housing side," Barkin said, citing data that price pressures are easing across a broader set of goods and services. "I'd like to see that continue."