Philadelphia Federal Reserve Bank President Patrick Harker argued that the Fed does not need to take rates lower right now because of some concerns about financial stability. Harker further explained that concerns about financial stability are in areas outside of the regulated sector.
“We’re in a good place with rates unless there is a substantial change in inflation,” Harker said. “There is lots of uncertainty around inflation dynamics because of technology and uncertainty in the economy.”
The US Dollar Index ignored these comments and was last down 0.2% on a daily basis at 97.20.
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