Giving the Economy Time to Catch Its Breath

Abstract: During a presentation at the Mortgage Bankers Association Annual Convention and Expo in Philadelphia, Patrick Harker, Philadelphia Fed president and CEO, said that his position on “holding the policy rate steady is the prudent one to take.” Harker also said that he believes “such a resolute, but patient, stance of monetary policy will allow us to achieve the soft landing that we all wish for our economy.” He noted that he continues “to see strong underpinnings for our economy overall,” adding that this “economy is proving to be nothing if not resilient. I expect this to continue.”

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Bibliographic Information

Provider: Federal Reserve Bank of Philadelphia

Part of Series: Speech

Publication Date: 2023-10-16