FYI...Fed's Harker does not address monetary policy or the economy in prepared remarks

Author: Greg Michalowski | Category: Central Banks

Will be watching for any Q&A or comments to reporters

The Fed's Parker does not address monetary policy of the economy in his prepared remarks. 

Philadelphia President Richard Harker.

Back on September 27 in an event in New York, Harker said:

  • 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 did not support Fed's rate cut last week
Harker is NOT a voting member at the Fed this year. He will be a voting member in 2020.  He is not Bulllard on the speakers circuit (who likes to speak loud and often).   There is no record (at least from what I see) on how he might've voted in October.  There is only one more FOMC meeting in 2019 before he becomes a voting member. 

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