Fed’s Harker adopts more cautious tone on policy
Philadelphia Fed president sees inflation rising more gradually than before
Federal Reserve Bank of Philadelphia president Patrick Harker is approaching monetary policy "a bit more cautiously" than a few months ago, he said on February 16.
Harker still expects inflation to return to 2% over the "medium-term", as energy prices would need to continue their precipitous fall to "renew their downward pressure", while import prices should "stabilise" as the US dollar does.
Nonetheless, he sees inflation returning to target "more gradually" than "just a few months ago". In
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