CoinVoice has learned that, according to Jinshi reports, Philadelphia Fed President Harker stated on Thursday that he still expects the Federal Reserve to cut interest rates, but the policy path is shrouded in significant uncertainty.
Harker said: 'I still believe we are on a path of declining policy rates. I do not intend to deviate from this path or turn back. The exact pace of moving forward will depend entirely on the new data received.' Harker does not have a voting right this year. He mentioned in his speech that 'the overall foundation of our economy remains strong', but even so, 'we are still in a very uncertain period', which limits the guidance on future policy paths.
Harker pointed out that bringing inflation back to the 2% target will take longer than expected. He also stated that the labor market has stabilized and remains healthy, with increasing signs that low-income individuals are facing greater pressure, which concerns him. [Original link]