2 Jun 2017
Fed's Harker: U.S. jobs report for May is "a good number"
Philadelphia Fed's President Patrick Harker was on the wires, noting that U.S. economy is "essentially at normal now," economic outlook is overall "pretty good".
Key headlines (via Reuters):
- Inflation still on track despite recent softness; sees it hitting U.S. Central bank's 2 percent goal around end of 2017
- Repeats that he sees two further U.S. Interest rate hikes this year as appropriate
- Forecasts U.S. GDP growth of 2.3 pct for 2017, unemployment rate to drop to 4.2 pct by end of 2018
- He thinks there is very little slack left in U.S. Labor market
- Fed's unwinding of balance sheet will be slow and "essentially on autopilot"