Fed's Harker: We may be near the point of cutting rates but unsure of when it will happen
Recent CPI data shows uneven progressGreatest risk is that Fed cuts too earlyIs concerned by rising credit delinquenciesThere are multiple signs labor market coming into better balanceUS GDP continues to be strongStill wants more confidence that inflation is moving back to 2%The Fed is in the last mile of heading down to 2%Rise in layoffs not a sign of recession arrivingThese aren't hawkish comments and fit in with the bulk of commentary we've heard since the CPI report. I wouldn't expect an FX market reaction.Harker isn't a voter this year but he's usually a good barometer of the core of the FOMC. This article was written by Adam Button at www.forexlive.com.
- Recent CPI data shows uneven progress
- Greatest risk is that Fed cuts too early
- Is concerned by rising credit delinquencies
- There are multiple signs labor market coming into better balance
- US GDP continues to be strong
- Still wants more confidence that inflation is moving back to 2%
- The Fed is in the last mile of heading down to 2%
- Rise in layoffs not a sign of recession arriving
These aren't hawkish comments and fit in with the bulk of commentary we've heard since the CPI report. I wouldn't expect an FX market reaction.
Harker isn't a voter this year but he's usually a good barometer of the core of the FOMC. This article was written by Adam Button at www.forexlive.com.
