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