Reported 8 months ago
Philadelphia Fed President Patrick Harker stated that a single interest rate cut by the U.S. Federal Reserve this year would be fitting if his economic projections materialize, citing factors like slowing but above-trend economic growth and a gradual return to the inflation target. The Fed aims to cool inflation to its 2% target rate and kept interest rates steady at 5.25-5.50% in the last policy meeting. Harker emphasized the need for a data-driven approach in making decisions on rate adjustments and acknowledged the possibility of no cuts or two cuts this year based on evolving economic indicators.
Source: YAHOO