ICYMI - Fed's Harker did not support the October FOMC rate cut

Philadelphia Fed chief Patrick Harker is not a voter on the Federal Open Market Committee this year, but if he was he says he would have dissented.

Greg had the news earlier:

• Fed's Harker: He was against the October rate cut

The Wall Street Journal have a recap up now:

• Fed wrong to lower interest rates last month.
• the main issue holding growth back right now is uncertainty
• the cost of capital isn't a source of restraint, which means lowering rates right now simply won't have much impact on economic activity

ps. Harker will be a voter in 2020.