- Further comments by Fed's Harker
Market news
25 March 2019
Further comments by Fed's Harker
- Market has priced in less optimism than the FOMC
- Sees neutral rate as being one or two moves away
- Says inflation is not running out of control
- Would want to see inflation rise and stay above 2% for a bit before hiking this year
- Would also need to see strong labour market
- Notes shortage of labour to fill job vacancies is one of the biggest risks to U.S. growth
- Doesn't see circumstances for a rate hike in the short-term
- Says dot plots are not a commitment to what the Fed will do
- If we see deep recession, would need to dip into unconventional monetary policy toolkit
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