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Harker says does not see need for another rate reduction
Fed's Harker says does not see need for another rate reduction, adds that the central bank should stay here for a while - CNBC
— DailyFX Team Live (@DailyFXTeam) August 22, 2019
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Fed's Harker: No need for further stimulus now
In an interview with CNBC, Patrick Harker, President of the Federal Reserve Bank of Philadelphia, said that he doesn't see any need for further stimulus at the moment. "We are roughly where neutral is," Harker added and noted that they saw the US-China trade dispute as an "economic headwind." Supported by these hawkish remarks, the US Dollar Index rebounded from the session low that it set at 98.08 in the last hour and is now at 98.18, still losing 0.08% on the day. Below are some additional comments, per Reuters. "Yield curve is only one of many signals." "Trade issue makes business decisions difficult." ... (full story)
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Hawkish Shocker From Fed's Harker Inverts 2s10s Curve, Sends Stocks Red
Moments after yields tumbled across the curve following the first contractionary US Mfg PMI print in a decade, which sparked concerns about a recession in the US, bond traders were whipsawed by comments from (non-voting) Philly Fed president Patrick Harker, who in an interview with CNBC said that he doesn't see any need for further stimulus at the moment. "We are roughly where neutral is," Harker added and noted that they saw the US-China trade dispute as an "economic headwind." While "It’s hard to know exactly where neutral is" Harker said that "we’re roughly where neutral is right now. And I think we should ... (full story)
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