Fed's Harker speaks In NY
The Fed's Harker speaking in NY and says:
- Fed out to hold rates steady and watch economy
- Fed watching money markets and will ensure rate controls
- Standing repo facility discussions still at early stage
- Fed may need to grow balance sheet sooner than thought
- Reserves may be near or approaching appropriate level
- Says he is not supportive of September rate cut
- Says he not support Fed's rate cut last week