Домой United States USA — Financial Philadelphia Fed President Harker advocates for interest rate cut in September

Philadelphia Fed President Harker advocates for interest rate cut in September

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Harker gave the strongest statement yet from a central bank official that easing is almost a certainty next month.
Philadelphia Federal Reserve President Patrick Harker on Thursday provided a strong endorsement to an interest rate cut on the way September.
Speaking to CNBC from the Fed’s annual retreat in Jackson Hole, Wyoming, Harker gave the most direct statement yet from a central bank official that monetary policy easing is almost a certainty when officials meeting again in less than a month.
The position comes a day after minutes from the last Fed policy meeting gave a solid indication of a cut ahead, as officials gain more confidence in where inflation is headed and look to head off any potential weakness in the labor market.
«I think it means this September we need to start a process of moving rates down», Harker told CNBC’s Steve Liesman during a «Squawk on the Street» interview. Harker said the Fed should ease «methodically and signal well in advance.»
With markets pricing in a 100% certainty of a quarter percentage point, or 25 basis point cut, and about a 1-in-4 chance of a 50 basis point reduction, Harker said it’s still a toss-up in his mind.

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