February 17, 2025 at 02:24PM
Philadelphia Fed Pres. Harker is speaking and says:
Current economy argues for stay rate policy for now
monetary policy into place right now.
Future Fed rate policy choices will be data-driven.
The Fed policy stance should continue to lower inflation.
Inflation is elevated and has been a sticky over recent months.
See inflation back to 2% target over next two years.
Labor market largely in balance.
Currently functioning from position of strength.
Unsure what impact new government policies will have on the economy.
On January 9, Patrick Harker reaffirmed that the FOMC remains on a rate-cutting path, though future decisions will be driven by incoming data. He noted that the labor market has stabilized and the pace of job creation has normalized, signaling a more balanced employment landscape. Additionally, he highlighted the Fed’s success in bringing inflation down from its peak.
With Harker set to retire in June 2025 and not a voting member this year, uncertainty remains over whether another rate cut will occur before his departure.
This article was written by Greg Michalowski at www.forexlive.com.
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