Fed’s Harker: central bank has done a good job in navigating the economy

FXStreetSep 23, 2024 12:55 AM

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Federal Reserve (Fed) Bank of Philadelphia Patrick Harker said on Friday that the US central bank has efficiently navigated a challenging economy over the past few years.

Key quotes

Monetary policy is likened to driving a bus - need to balance speed.

Maximum employment involves job quality, not just quantity.

Philadelphia Fed conducts research beyond monetary policy.

Importance of both "hard" and "soft" data in decision-making.

Fed plays a crucial role in bank supervision and financial stability.

Fed is exploring AI and quantum computing impacts on finance.

There is a risk that the inflation decline could stall.

There is a risk that the labor market could soften.

Market reaction

The US Dollar Index (DXY) is trading 0.06% higher on the day at 100.80, as of writing.

Reviewed byTony

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