Jul 15, 2020 10:10 PM IST
Based on average forecasts, Harker said real GDP growth could drop by 20 percent in the first half of this year and then grow by 13 percent in the second half. He said the economy could decline by about 6 percent for the year
- Feb 22, 2017 08:21 AM IST
Proposed congressional bills that would limit the Federal Reserve's ability to independently decide policy are deeply concerning though the Fed, in order to be more transparent, can "communicate better" what motivates such decisions, a Fed official said on Tuesday.
- Feb 07, 2017 07:52 AM IST
The Fed raised rates for only the second time since the financial crisis in December, and most Fed policymakers agree with Harker that three more rate hikes this year would be appropriate. Wall Street banks and interest-rate futures traders are betting the Fed will only lift borrowing costs twice this year, starting in June.
- Jan 12, 2017 08:28 PM IST
The Federal Reserve can consider beginning to shrink its massive bond holdings once the overnight interbank lending rate hits 1 percent, Philadelphia Fed President Patrick Harker said on Thursday.
- Nov 17, 2016 07:57 AM IST
The Federal Reserve must take into account potential policy changes made by the incoming Trump administration which could affect the US central bank, Philadelphia Fed President Patrick Harker said on Wednesday.