- Fed's Harker: Fed still on rate-cut path, future moves driven by data
Market news
9 January 2025
Fed's Harker: Fed still on rate-cut path, future moves driven by data
Philadelphia Federal Reserve President Patrick Harker said on Thursday that the US central bank is still expected to continue to cut rates but explained that the path will depend on data, per Reuters.
Key takeaways
"Underpinnings of economy strong amid high uncertainty."
"Fed must be data-dependent amid high uncertainty."
"Labor markets stabilized, are in better balance."
"Job creation pace has normalized."
"It is taking longer to get back to 2% inflation than expected."
"Fed has had success getting inflation down from peak."
"More of overall consumer spending resting on higher incomes."
Market reaction
The US Dollar Index showed no immediate reaction to these comments and was last seen posting small daily gains at 109.07.
Market Focus
Material posted here is solely for information purposes and reliance on this may lead to losses. Past performances are not a reliable indicator of future results. Please read our full disclaimerOpen Demo Account & Personal Page