Thank you, it’s a pleasure to be here, particularly in such good company. People start paying a lot less attention to Fed presidents when we roll off our voting positions, so maybe some of the limelight from my esteemed fellow panelists will fall on me. I’ve been asked today to share my views on the U.S. economic outlook and the appropriate stance for monetary policy over the near term. That part about “my views” is an excellent segue to the standard Fed disclaimer that I’m sure you’ve already heard enough times to know by heart: The views I express today are mine alone and do not necessarily reflect those of anyone ... (full story)

Federal Reserve officials should ease up on expectations for rate hikes this year, Philadelphia Fed President Patrick Harker said in a speech Friday. With the central bank poised to hike its interest rate target three times in 2018, Harker instead suggested that with inflation running low, the Fed ought to consider a slower pace until prices catch up. "Domestically, I expect inflation will run a bit above target in 2019 and come down to target the following year, but I am more hesitant in this view than I am on economic activity. If soft inflation persists, it may pose a significant problem," Harker told an audience ... (full story)