Fed's Harker: Monetary policy is about neutral or slightly accommodative

Eren Sengezer FXStreet

Philadelphia Federal Reserve Bank President Patrick Harker on Tuesday said that the Federal Reserve's monetary policy was 'about neutral or slightly accommodative.'

Regarding the possible use of negative interest rates, "There would be an extremely high hurdle for me to support negative interest rates," Harker stated, per Reuters. "In the case of a recession, the best response may not be negative rates but a bigger fiscal stimulus."

Meanwhile, the US Dollar Index continues to move sideways near the 98.30 mark in the session.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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