Adding to his earlier comments, Philadelphia Fed President Patrick Harker was further noted saying that the market has priced in less optimism than the FOMC and sees the neutral rate as being one or two moves away.
Additional quotes:
“¢ Still doesn’t see circumstances for a rate hike in the short-term.
“¢ Dot plots, not a commitment to what the Fed will do.
“¢ Says inflation is not running out of control.
“¢ Would want to see inflation rise and stay above 2% for a bit before hiking this year.
“¢ Would also need to see a strong labour market.
“¢ Shortage of labour to fill job vacancies is one of the biggest risks to US growth.
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