- Closely monitoring data to assess whether additional policy tightening will be needed
- Projects 2023 GDP growth below 1%, unemployment to rise to 4.4%
- Expects inflation to fall to around 3.5% this year and 2.5% next year, at 2% target in 2025
- Sees promising signs that Fed's rate hikes are working
Harker's comments yesterday highlighted the possibility of the Fed skipping a hike at the upcoming meeting.
Some of these forecasts indicate that the Fed will be thinking about cutting around year end.
