Connect with us

Popular World News

Fed’s Harker calls for research to understand ‘unruly’ economic factors By Reuters

World's first floating farm in operation in Rotterdam By Euronews

ECONOMIC NEWS

Fed’s Harker calls for research to understand ‘unruly’ economic factors By Reuters


Fed’s Harker calls for research to understand ‘unruly’ economic factors

Philadelphia Federal Reserve Bank President Patrick Harker on Tuesday encouraged researchers to develop more “angles of analysis” on the economy “at a time when far more of the variables appear to be uncertain – or unruly.”

Harker’s prepared remarks, scheduled to be delivered at the opening of a “neuroeconomics” conference about blending the study of neuroscience, psychology and economics, did not address his economic policy or interest rates outlook. Harker does not currently vote on rates but participates in deliberations by the Fed’s policy-setting committee.

He said more study could help “as a new economic normal takes hold, even as a record-long expansion continues; and as many of our traditional models and modes of assessment have begun to lose their predictive and evaluative prowess.”

The Fed cut rates last week for the first time since 2008, citing signs of a global slowdown, simmering U.S. trade tensions and a desire to boost too-low inflation. A move by Washington to declare Beijing a currency manipulator on Monday put more pressure on the central bank to lower borrowing rates further.

In recent years, the central bank has had to revise downward its estimates of the long-run unemployment rate and “neutral” interest rates as debate continues about how much inflation can be generated by the U.S. economy’s ongoing growth.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





Source link

Continue Reading
You may also like...
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

More in ECONOMIC NEWS

To Top
error: Content is protected !!
Top