Feds Harker. Non voting member in 2018. Projection for hikes is less than the Fed consensus of 3 hikes.
- Says very little slack left in US labor market
- Sees inflation rising a bit about 2% in 2019
- Repeats his view that tworate hikes are warranted in 2018
- see GDP growth averaging just under 2½ percent for the year, and then dropping a little lower, to 2.2 percent, for 2019.
- U6 measure of unemployment, has moved back down to prerecession lows at 8.1 percent.
- the most common feedback I’m getting is that businesses are having a difficult time filling positions.
Philadelphia Fed president speaking at a luncheon hosted by the Central Bucks Chamber of Commerce Q&A is expected.
CLICK HERE for the link to the speech.