Fed's Harker: U.S. jobs report for May is "a good number"
|Philadelphia Fed's President Patrick Harker was on the wires, noting that U.S. economy is "essentially at normal now," economic outlook is overall "pretty good".
Key headlines (via Reuters):
- Inflation still on track despite recent softness; sees it hitting U.S. Central bank's 2 percent goal around end of 2017
- Repeats that he sees two further U.S. Interest rate hikes this year as appropriate
- Forecasts U.S. GDP growth of 2.3 pct for 2017, unemployment rate to drop to 4.2 pct by end of 2018
- He thinks there is very little slack left in U.S. Labor market
- Fed's unwinding of balance sheet will be slow and "essentially on autopilot"
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