Fed Harker speaking on the economy

  • Fed should hold rates steady for a while
  • Fed should watch how developments and data unfold before taking action
  • The economy is in good shape and he expects economic growth of 2% this year
  • Economy on track to reach 2% inflation target
  • He expects unemployment rate to stay below 4% for the next couple of years
  • Mortgage refinancing could support consumer spending this year
  • Uncertainty over fiscal policies, trade and geopolitical tensions is holding back business investment
  • Negative effects of coronavirus on Chinese economy or something to watch

Fed Harker is the president of the Philadelphia Fed and is a voting member of the FOMC in 2020