- Philadelphia Fed President Harker: U.S. economy looking "pretty good"
Market news
17 January 2020
Philadelphia Fed President Harker: U.S. economy looking "pretty good"
- Says he expects inflation to reach Fed's 2% target this year
- Data show labor market doing incredibly well
- See U.S. growth returning to trend of about 2% this year
- Business investment is a laggard
- Hopes resolving some trade and global uncertainty to unleash business investment
- Argues negative rates would be disruptive in U.S
- Says Fed interventions in repo market are temporary
- Whether Fed offers a standing repo facility is a debatable point
- Says he doesn't want Fed to be the first choice for liquidity, but a backstop
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