- Recent CPI data shows uneven progress
- Greatest risk is that Fed cuts too early
- Is concerned by rising credit delinquencies
- There are multiple signs labor market coming into better balance
- US GDP continues to be strong
- Still wants more confidence that inflation is moving back to 2%
- The Fed is in the last mile of heading down to 2%
- Rise in layoffs not a sign of recession arriving
These aren’t hawkish comments and fit in with the bulk of commentary we’ve heard since the CPI report. I wouldn’t expect an FX market reaction.
Harker isn’t a voter this year but he’s usually a good barometer of the core of the FOMC.
This article was written by Adam Button at www.forexlive.com. Source