Fed’s Patrick Harker speaking at a fintech conference
- Today’s PCE was weak
- We are starting to see some wage pressure
- GDP will bounce back from storms
- Inflation is one area that gives me pause
- Pausing on Fed funds rate path is appropriate
- Work showing we’re overstating inflation is persuasive
- Inflation is a problematic part of our dual mandate
- My rate estimates assume inflation is coming back
And if it doesn’t old chum, I hope you’ve got a big rubber on your pencil.
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