The Fed and the Economy: Where We’re Going, Where We’ve Been

Patrick T. Harker

Speech from Federal Reserve Bank of Philadelphia

Abstract: Speaking to the audience at La Salle University’s 22nd Annual Economic Outlook, Philadelphia Fed President and CEO Patrick Harker shared the Fed’s commitment “to bringing down inflation and to maintaining the conditions for a healthy labor market.” Like the national economy, the “region’s economy reflects weakening conditions in business and interest-rate sensitive areas such as housing, but maintains significant strengths, particularly in the labor market.” In light of our strong labor markets, Harker said they “are simply too hot to indicate a significant downturn at this point.”

Pages: 10
Date: 2023-02-14
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