Fed's Harker: FOMC should hold steady

Dhwani Mehta FXStreet

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.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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