Federal Reserve Bank of Philadelphia President Patrick Harker
- Full impact of monetary policy actions can take 18 months to be felt
- Already seeing promising signs that the Fed's actions are working
- Fed to determine 'what, if any,' additional actions may be needed by looking closely at data
- Fed is fully committed to 2% inflation
- 'disappointing' that recent readings show disinflation is proceeding slowly
- US banking system is sound and resilient
Headlines via Reuters from Harker's remarks prepared for delivery to the Wharton Initiative on Financial Policy and Regulation.
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Fed officials have been thick on the ground the past few hours:
