Philadelphia Fed President Harker said on Thursday that he still expects the Federal Reserve to cut interest rates, but the policy path is shrouded in considerable uncertainty. Harker stated, “I still believe we are on a path for policy rates to decrease. I do not intend to deviate from this path or turn back. The exact pace of moving forward will entirely depend on the new data received.” Harker does not have voting rights this year. In his remarks, he said, “The overall fundamentals of our economy remain strong,” but even so, “We are still in a very unstable period,” which limits guidance on future policy paths. Harker pointed out that bringing inflation back to the 2% target will take longer than expected. He also mentioned that the labor market has stabilized and remains healthy, with increasing signs that lower-income individuals are facing greater pressures, which concerns him. (Jin Shi Data APP)