Reported about 2 months ago
Federal Reserve Bank of Philadelphia President Patrick Harker has indicated his support for initiating a steady course of interest rate cuts, potentially starting in September, contingent on favorable economic data. Harker emphasized the importance of a gradual approach to easing monetary policy, reflecting feedback from business contacts who seek predictability after the aggressive rate hikes of the past few years. He acknowledged a normalization in the job market and a retreat in inflation, while expressing the view that it could take more time to reach the Fed's 2% inflation target.
Source: YAHOO