Philly Fed President Harker sees one rate cut by end of 2024 as 'appropriate' for policy
==========
Federal Reserve Bank of Philadelphia President Patrick Harker stated that one rate cut by the end of 2024 would be 'appropriate' as the Federal Reserve works to bring down inflation rates to its 2% target. This aligns with the Fed's updated dot-plot, which indicates a 25 basis point cut in the fed funds rate once in 2024. Harker anticipates a slowdown in inflation, employment, and economic activity, but the timing of these moves remains uncertain. He mentioned that the Fed's decision on rate cuts is data-dependent and could result in either two cuts or none for this year. Harker made these remarks at the Global Interdependence Center 42nd Annual Monetary and Trade Conference in Philadelphia. He is not a voter on the Federal Open Market Committee this year.
#FederalReserve #InterestRates #Inflation #EconomicActivity #RateCuts
https://seekingalpha.com/news/4116733-philly-fed-president-harker-sees-one-rate-cut-by-end-of-2024-as-appropriate-for-policy
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2024-06-17 20:12:19
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npub1qpfrthtcf6g8grmwfv45qf28aa4xqk73pgnmwjdfuze8zl2l2cnsewdamfPublished at
2024-06-17 20:12:19Event JSON
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"content": "Philly Fed President Harker sees one rate cut by end of 2024 as 'appropriate' for policy\n==========\n\nFederal Reserve Bank of Philadelphia President Patrick Harker stated that one rate cut by the end of 2024 would be 'appropriate' as the Federal Reserve works to bring down inflation rates to its 2% target. This aligns with the Fed's updated dot-plot, which indicates a 25 basis point cut in the fed funds rate once in 2024. Harker anticipates a slowdown in inflation, employment, and economic activity, but the timing of these moves remains uncertain. He mentioned that the Fed's decision on rate cuts is data-dependent and could result in either two cuts or none for this year. Harker made these remarks at the Global Interdependence Center 42nd Annual Monetary and Trade Conference in Philadelphia. He is not a voter on the Federal Open Market Committee this year.\n\n#FederalReserve #InterestRates #Inflation #EconomicActivity #RateCuts\n\nhttps://seekingalpha.com/news/4116733-philly-fed-president-harker-sees-one-rate-cut-by-end-of-2024-as-appropriate-for-policy",
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