Fed's Harker: FOMC should hold steady
|Wall Street Journal (WSJ) is out with the latest comments from the Federal Reserve Bank of Philadelphia President Patrick Harker, as he reiterated that “We should hold steady for a while and watch how things unfold.”
Additional Comments:
FOMC should hold steady.
Did not favor last two Fed rate cuts.
Inflation edging up, to reach 2% over next 18-24 months.
Sees US growth bit above 2% in 2019, around 2% in 2020.
Repeats that the Fed should hold steady and watch economy.
Economy in good place, trade, global growth headwinds.
Consumer a 'hero' but can't be sole engine of economy.
Meanwhile, the US dollar index is almost unchanged on the day amid fresh US-China trade worries, firmer Treasury yields and cautious Asian equities.
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