Fx trading News:Philadelphia Fed chairman said central bank interest rates should remain stable for some time!

 

2020-02-13 11:01      from:CAPSTONE    author:Jack

Capstone Forex Trading News:Philadelphia Federal Reserve Chairman Patrick Harker said on Wednesday that as economic growth and consumer conditions continue to be healthy, central bank interest rates should remain at current levels.
 
Speaking as a member of the Federal Open Market Committee (FOMC) this year, Mr. Hack supports a wait-and-see approach to monetary policy. The previous year, the Federal Reserve lowered the benchmark interest rate three times.

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"My current view is that we should keep interest rates stable for some time, and watch for developments and data before we take any further action," Speaking in a speech in Malvern, a suburb of Philadelphia, said.
 
He called the economy "in good shape."
Harker added: "Overall, it is still good news for consumers. Consumers are optimistic about the economy due to the lowest unemployment rate and wage growth in 50 years. Consumer confidence is high and this optimism should be Will support household spending this year. "
 
At its January meeting, the FOMC chose to keep the federal funds rate target between 1.5% and 1.75%. A statement following the meeting said the committee would "continue to monitor the impact of upcoming information on the economic outlook." At the meeting in December last year, the “bitmap” of interest rate expectations of members showed that there will be no change by 2020.
 
However, according to data from the Chicago Mercantile Exchange (CME), the market expects a 60% probability of a 25 basis point rate cut before September and a 41% probability of another rate cut before the end of the year.


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