Federal Reserve's Harker: Given the inflation situation, it is not clear whether the Fed should cut rates again
Jinse Finance reported that Federal Reserve's Harker stated that, given the inflation situation, it is not clear whether the Fed should cut rates again; the economy is expected to accelerate its recovery next year; he does not believe there will be a significant decline in the labor market; this year's inflation rate will exceed the target (2%) by one percentage point. He also stated that the unemployment rate is expected to rise slightly this year and then decline again; the Fed is facing the dual mandate pressure of employment and inflation; monetary policy is, at best, only marginally restrictive; inflation is expected to remain high until 2026; the job market may be more fragile than the data suggests; financial conditions are quite loose; it will take two to three years for inflation to return to 2%.
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