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Speech
Welcoming remarks: Camden Promise Zone Initiative meeting
President Patrick T. Harker provides opening remarks at the Community Reinvestment Act and the White House Promise Zone Initiative: Camden Promise Zone Initiative meeting, organized by the Philadelphia Fed?s Community Development Studies & Education Department, the FDIC, the City of Camden, the Camden Redevelopment Agency, and the U.S. Department of Housing and Urban Development. He discusses how locally developed plans can leverage private-sector investments to promote economic growth.
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Trade and Training
"Trade fosters peace and cooperation? among nations, said Philadelphia Fed President Patrick Harker in a June 27 speech to the European Economics and Financial Centre in London, UK. But he said help should be given to the workers and industries that are negatively affected by trade
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The Importance of an Equitable Workforce Recovery: A New Kind of Back to Work: Talent, Recovery, and the Future of Greater Philadelphia
Speaking at a virtual conference, Patrick T. Harker, president and CEO of the Federal Reserve Bank of Philadelphia, said that ensuring an equitable economic recovery is not only the right thing to do, but also an economic imperative. Harker addressed an event called A New Kind of Back to Work: Talent, Recovery, and the Future of Greater Philadelphia.
Speech
What to Expect When You’re Expecting to Normalize Monetary Policy
"Removing accommodation is the right next step,? said President Patrick Harker in a speech on November 13 in Tokyo. He also said in ?the event of another shock,? making sure tools are effective, in his view, ?means reducing our balance sheet.?
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Supporting Small Business Owners of Color
At the Fed’s virtual Racism and the Economy: Focus on Entrepreneurship event, Philadelphia Fed President Patrick T. Harker emphasized the economic importance of small businesses and the barriers that limit minority entrepreneurs from accessing capital. Harker said that’s why the Philadelphia Fed is helping “to spark an equitable small business recovery and to strengthen support for small business owners of color.”
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The Future of the Fed’s Balance Sheet
In opening remarks on a panel at the US Monetary Policy Forum in New York City, Philadelphia Fed President Patrick Harker discussed unwinding the Fed?s balance sheet. He said that, in his view, "a slow and steady approach is not only the safer option, it?s one that will reduce uncertainty about the evolution of the balance sheet."
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Monetary Policy Listening Tour
During opening remarks at a listening session at the Philadelphia Fed, President Patrick T. Harker told the audience, which included Fed Vice Chair Richard H. Clarida, that while data are important to setting monetary policy, ?the views and experiences of people and businesses across our communities are also crucial components of how we measure the health of the American economy.? The session is part of Fed Listens, a Federal Reserve effort to review how to best pursue its mandate of maximum employment and price stability.
Speech
Welcoming remarks: energy interdependence in the western hemisphere conference
President Patrick T. Harker highlights the progress of energy development in the Third District and its importance in fostering economic growth as he welcomes participants to the Global Interdependence Center?s conference. This event brings together leaders in science, technology, and business to discuss ways to collaborate and use energy resources wisely.
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Monetary Policy Normalization: Low Interest Rates and the New Normal
Philadelphia Fed President Patrick T. Harker discussed “where we were, where we are, and where we’re going” in the Fed’s effort toward monetary policy normalization during opening remarks to a roundtable at the Official Monetary and Financial Institutions Forum in New York City. Harker said the Fed is reviewing its strategies, tools, and communication practices to reflect the changes in the U.S. economy since the Great Recession.
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Economic Outlook Amid COVID-19
Philadelphia Fed President Patrick T. Harker told an audience at the Chicago Council on Global Affairs that he foresees two possible paths for the U.S. economy. Addressing the council via Zoom, Harker said which path we take depends on how measures to mitigate the spread of COVID-19 play out.