Last quote by Patrick Harker
Patrick Harker quotes
The independence of the Fed is crucial to making the best decisions possible for the American economy.
If there are policies that would have distortive effects that we would have to respond to, we'll have to respond.
What I'm worried about is depending on the outcome of the election and what happens after that, if there are polices that would have distortive effects that we would have to respond to, we'll have to respond. And I don't know which way that will go. But it may be prudent to wait until we have resolved some of that uncertainty.
We can't wish for the resurgence of an economy long past. Economies evolve, and approaches to growth and stability have to change with them.
If the data comes in and it's not consistent with my view of the strength in the economy, then I would pause. But otherwise I think a June rate increase is appropriate. But again, it does depend on what that data looks like.
But again, it does depend on what that data looks like.
Although I cannot give you a definitive path for how policy will evolve, it might prove prudent to wait until the inflation data are stronger before we undertake a second rate hike.