Fed’s Harker: central bank has done a good job in navigating the economy
FXStreetSep 23, 2024 12:55 AM
Federal Reserve (Fed) Bank of Philadelphia Patrick Harker said on Friday that the US central bank has efficiently navigated a challenging economy over the past few years.
Key quotes
Monetary policy is likened to driving a bus - need to balance speed.
Maximum employment involves job quality, not just quantity.
Philadelphia Fed conducts research beyond monetary policy.
Importance of both "hard" and "soft" data in decision-making.
Fed plays a crucial role in bank supervision and financial stability.
Fed is exploring AI and quantum computing impacts on finance.
There is a risk that the inflation decline could stall.
There is a risk that the labor market could soften.
Market reaction
The US Dollar Index (DXY) is trading 0.06% higher on the day at 100.80, as of writing.
Reviewed byTony
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