Philadelphia Fed President Harker: Inflation has softened by weakness may be transitory

Market news

6 May 2019

Philadelphia Fed President Harker: Inflation has softened by weakness may be transitory

Sees U.S. GDP growth a bit above 2% this year
Sees unemployment falling to 3.5% before edging higher
Q1 GDP was a "pleasant surprise" but possible that weakness will show up in Q2
Says has not revised his medium-term inflation forecast
Repeats that he sees one rate hike at most this year and possibly one more in 2020

Eurozone's growth depends to a large extent on global economic conditions - ABN AMRO

U.S. Stocks open: Dow -1.57%, Nasdaq -1.90% S&P -1.48%

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