Fed's Harker is scheduled to speak at 10:30 AM ET on the economic outlook. He will kick off a host of opportunities to hear different fed speakers between now and the end of the week. Below is the schedule:
The calendar of the Fed speakers this week
The calendar leads into the blackout period ahead of the November 1 Fed decision.
Last week, Harker spoke. The major comments:
- Fed is likely to be done with rate hikes
- Supports a higher-for-longer interest rate stance.
- Uncertain about how long rates will need to stay high.
- Expects disinflation to continue, possibly falling below 3% this year.
- Foresees moderate economic growth next year but does not predict a recession.
- Does not anticipate mass layoffs.
- Believes auto strikes and renewed student loan payments will negatively impact the economy.
- Expects the unemployment rate to increase to around 4%.
Harker is a voting member in 2023