Fed's Harker says he opposed last rate cut, thinks rates should stay put | Metals Mine

  • Fed's Harker says he opposed last rate cut, thinks rates should stay put

    From reuters.com

    Philadelphia Federal Reserve Bank President Patrick Harker said on Tuesday he did not support the Fed’s last rate cut in October and that the central bank should keep policy steady. “I’m of the mind that we stay put for now and see how things work out,” Harker said in New York during an event organized by the Society for Advancing Business Editing and Writing. The policymaker said he thinks rates are currently neutral or “slightly accommodative” and that he doesn’t think lower rates will be enough to encourage spending from businesses being held back by trade uncertainty. He said he expects inflation to grow slowly ... (full story)

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auricforecas
Nov 12, 2019 2:30pm
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Well as long as they fight over this... I would not be that worried... I would be much worried if they would ALL agree on something This gridlock can actually be beneficial... so that they would basically cancel themselves out By the way, I just heard a funny real story.. that for example... Belgium worked very well when they had NO GOVERNMENT for quite some time One guy was explaining that everything was running rather smoothly...
The next best thing would be for them to be in a gridlock, so they do not harm markets too much too fast... or at least at the expense of long-term future... I think cutting rates would do just that... crack-high... but painfull withdrawal later...
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