Central Banks
Fed’s Harker Says Need More Data Before Deciding Rate-Cut Size
- Philadelphia Fed chief says easing should begin in September
- ‘Right now, I’m not in the camp of 25 or 50,’ Harker says
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Federal Reserve Bank of Philadelphia President Patrick Harker said economic data in the coming weeks will help inform the appropriate magnitude of the US central bank’s first interest-rate cut.
“In September we need to start a process of moving rates down,” Harker said Thursday in a CNBC interview from Jackson Hole, Wyoming, ahead of the Kansas City Fed’s closely watched annual symposium there.