Fed’s Harker: Not overly worried about inflation expectations
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“My best guess is we will remove about $2.5 trillion from the balance sheet overall but data will guide us,” Federal Reserve Bank of Philadelphia President Patrick Harker said on Tuesday, as reported by Reuters.
“We want to reduce the balance sheet methodically until we start to see where we need to stop,” Parker added and noted he is not overly worried about inflation expectations while adding that they are moving in the right direction.
The US Dollar (USD) stays on the back foot following these comments and the US Dollar ındex was last seen losing 0.85% on the day at 106.05.
“I don’t like to base policy on a couple of headline numbers.”
“As long as we’re moving consistently to collapse inflation down, we can pause.”
“I don’t want to move interest rates way up and then way down.”
“We need to balance minimizing job losses while getting inflation under control.”
“I think that outcome is still possible.”
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