Harker is retiring in June so I don’t know how much we should be listening to him.
- Policy rate remains restrictive enough to put downward pressure on inflation
- Fed watches the data, then reacts if we must
- Progress towards 2% inflation target has slowed
- Should not move to act on policy in either direction based on one report covering one month of data
- Optimistic on economic outlook, despire challenge of getting inflation back to target
This article was written by Adam Button at www.forexlive.com.
