The Federal Reserve Bank of Philadelphia President Patrick Harkersaid on Thursday that the US Federal Reserve could slow the pace of rate hikes in the coming monthsas reported by Reuters.
Featured Statements
“The Fed will have to assess the impact of rate hikes on the economy.”
“The Fed needs a sustained decline in inflation to moderate the interest rate hike campaign“.
“Inflation is still too high.”
“Future Fed hikes will depend on the data.”
“We see signs that the pace of activity in the economy is moderating.”
“The labor market is still hot, but unemployment is expected to rise to 4.5% next year.”
“The labor market will remain healthy in the future.”
“The core PCE inflation to moderate to 4.8% this year“.
market reaction
The Dollar Index remains under strong downward pressure and at time of writing is down 1.% on the day at 109.02.
Source: Fx Street
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