“我仍然认为我们将走在降息的道路上。根据我目前掌握的所有信息，我不会偏离这条道路或掉头，但沿着这条道路前进的确切速度将完全取决于即将到来的数据。”Hack pointed out that the Federal Reserve is still on the path of lowering interest rates, "I will not deviate from this path or turn back."
The President of the Philadelphia Fed, Harker, stated that officials are planning to lower interest rates this year, but the specific timing will depend on the economic situation.
Harker stated that it will take longer than expected to bring the inflation rate down to the Federal Reserve's target of 2%, and progress is uneven. However, he mentioned that the overall economy remains strong, and the labor market has cooled towards pre-pandemic trends. Harker said in a prepared speech at an event in Princeton, New Jersey on Thursday:
"I still believe we will be on the path to rate cuts. Based on all the information I have at this moment, I will not deviate from this path or turn back, but the exact speed of movement along this path will depend entirely on the upcoming data."
Federal Reserve officials lowered interest rates by 25 basis points last month, bringing the benchmark rate down by a full percentage point since September of last year. Federal Reserve Chairman Powell and other officials indicated that there is more room to cautiously cut rates after data showed a strong labor market and persistent inflation.
Harker expressed the same viewpoint, emphasizing that the Federal Reserve should remain data-dependent and avoid "acting hastily."
The President of the Philadelphia Fed stated that despite price stability and some economic risks globally, which include the Russia-Ukraine conflict, conflicts in the Middle East, and instability in some European governments, he believes inflation is still on the path to returning to 2%.
Harker said, "Domestically, we are awaiting potential policy changes that may affect the economy," adding that Bird Flu may also impact food costs.
The minutes from the Federal Reserve's December meeting indicate that policymakers believe they have "reached or are close to the point of slowing down the pace of interest rate cuts." The forecasts released during this meeting show that policymakers expect to cut rates only twice this year, down from the four rate cuts predicted in September last year.
It is noteworthy that Harker will resign from the position of President of the Philadelphia Fed at the end of June.
Editor/lambor
