Fed's Harker says he is revising his economic outlook as infections spike
Comments from Harker on Bloomberg TV
- This is going to be a slow recovery
- Supports letting inflation rise above 2% before liftooff
- State and local governments also need some help
- Skeptical the July jobs report will be as good as May/June
- Worried about the fiscal cliff of expiring unemployment programs
This is a more-subdued outlook from the Fed. We get the Beige Book at 1800 GMT and I wonder if it might have more of the same kind of commentary in it.