Central Banks
Fed’s Harker Says Interest-Rate Cuts Should Be ‘Methodical’
- Harker says it’s time for the Fed to start process of cutting
- Doesn’t see large risk that jobless rate will rise abruptly
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Philadelphia Fed President Patrick Harker said it is time for the US central bank to start cutting interest rates and emphasized the path down should be “methodical.”
“It’s time to start the process,” Harker said on Bloomberg Television Friday on the sidelines of the Kansas City Fed’s annual central bank symposium in Jackson Hole, Wyoming, where Chair Jerome Powell opened the day by saying “the time has come for policy to adjust.”