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Harker doesn't have a voting seat this year on the Fed's interest-rate setting committee, while Jefferson does. "I do believe we may be near the point where we can adjust the policy rate downward ...
Like many Fed officials, Harker reiterated the lags with which monetary policy can impact the economy. "Holding the rate steady will give those lags time to catch up," Harker said.
Patrick Harker, president and chief executive officer of the Federal Reserve Bank of Philadelphia, in Moran, Wyo., on Aug. 26, 2022.
Patrick Timothy Harker (born November 19, 1958) [1] is the President of the Federal Reserve Bank of Philadelphia. Harker previously served as the President of University of Delaware. [2] He was the dean of the Wharton School of the University of Pennsylvania from 2001 to 2007. He began his presidency of the University of Delaware in 2007 and ...
Harker said the Fed will let the data dictate whether a cut is 25 or 50 basis points and that the "process is more important" than the actual number. "The right direction is clearly down," and "I ...
Powell's speech comes just over three weeks out from the Fed's Sept. 17-18 meeting, which should see the central bank announce its first interest rate cut since 2020. Read more: Federal funds rate ...
The Fed raised rates by 0.50% following its December policy meeting, a slowdown after four successive interest rate increases of 0.75%. In 2022, the Fed raised rates by a cumulative 4.25%, or 425 ...
Harker’s stance was more cautious than that of Fed Chair Jerome Powell, who said Friday in a speech at the same symposium that the central bank is "prepared to raise rates further" as it ...