Economic Outlook for Delaware and the Nation

Patrick T. Harker

Speech from Federal Reserve Bank of Philadelphia

Abstract: Philadelphia Fed President and CEO Patrick Harker told an audience at the Delaware State Chamber of Commerce economic outlook event that monitoring hard and soft data will signal when it’s time to adjust policy either way. He noted that “a resolute, but patient, stance of monetary policy will allow us to achieve the soft landing that we all wish for our economy.” He added that “the workings of the economy cannot be rushed, and it will take some time for the full impact of the higher rates to be felt. Holding rates steady will let monetary policy do its work.” He also said that GDP growth is outperforming estimates in the nation, and that in Delaware, “the signals point in the same forward direction.”

Pages: 8
Date: 2023-10-13
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