Fed's Harker: Fed may need to grow balance sheet sooner than thought

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