Federal Reserve Hawk: Still Expects Fed to Cut Rates, But Policy Path Shrouded in Considerable Uncertainty

BlockBeats News, January 9th. Philadelphia Fed President Harker said on Thursday that he still expects the Fed to cut interest rates, but the policy path is shrouded in considerable uncertainty. Harker said: "I still believe that we are on a path of lowering the policy rate. I do not intend to deviate from this path or turn back. The exact speed of continuing forward will depend entirely on the new data we receive."

Harker does not have a vote this year. In his speech, he said, "The overall foundation of our economy remains strong," but even so, "we are still in a very unstable period," which limits guidance on the future policy path. Harker pointed out that it will take longer than expected to bring inflation back to the 2% target. He also stated that the labor market has stabilized and remains healthy, with increasing evidence that low-income earners are facing greater pressure, which concerns him. (Oriental Fortune Network)