Harker optimistic in first speech as FOMC voting member

Patrick Harker. Image: Federal Reserve Bank of Philadelphia

The governor of the Federal Reserve Bank of Philadelphia has said the US economy has started off 2017 on a "good foot", with forecasts for inflation in line with Federal Reserve targets.

Speaking in his first address since becoming a voting member of the Federal Open Market Committee (FOMC) in December 2016, Patrick Harker said the US labour market was "strong", with jobs being created at a "good pace".

"The drop in labour force participation must be addressed, but that will take legislative acti