Comments by Philly Fed president, Patrick Harker, in London
- Says that he is in 'wait and see' mode on policy changes
- Economic risks tilt very slightly to the downside
- But the outlook remains pretty good and positive
- Expects US economic growth a bit above 2% this year
- Inflation running around Fed's target, edging slightly downwards
Nothing out of the ordinary here from Harker. Just be reminded that he isn't a voter in the FOMC this year so his comments are far less impactful than other Fed speakers. The dollar is holding a little weaker on the day alongside the yen as bond yields are holding steady and is helping to provide some calm to markets after Friday's movements.
