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Speech
The Impact of COVID-19 on Communities and Small Businesses
Speaking at a Fed webinar, Philadelphia Fed President Patrick Harker said small businesses, and those owned by minorities in particular, are among those most economically impacted by the COVID-19 crisis. Harker said one solution to help create a stronger small business sector could be to ensure that more small businesses and microenterprises have relationships with banks.
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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.
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Worker Voices Show Us What the Data Do Not
Speaking at a webinar, Patrick T. Harker, president and CEO of the Philadelphia Fed, stressed the importance of qualitative data in understanding the labor market. Hosted by Fed Communities, the event focused on the recent Worker Voices report, a national Fed study that engaged job seekers and workers without a four-year degree. “For us as policymakers,” said Harker, “the soft data provided by Worker Voices are equally important as, if not perhaps even more important than, numbers-driven hard data in getting a full understanding of our economic situation.” The study found that ...
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Benjamin Franklin Birthday Celebration
Barriers to economic mobility prevent many low-income children from reaching their potential, Federal Reserve Bank of Philadelphia President Patrick T. Harker said today in remarks delivered at the Ben Franklin Birthday Celebration. President Harker said that understanding these barriers is integral to fostering growth across demographics
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An Economic Outlook - New Jerseys Bankers Association
Philadelphia Fed?s Harker: New Jersey?s Economy Shows Significant Progress Despite Slow Recovery January 20, 2017 While New Jersey?s economy has made significant progress since the recession, the state faces ?different issues than other states? that impact the recovery of its housing and labor markets, Federal Reserve Bank of Philadelphia President Patrick T. Harker said today in remarks at the New Jersey Bankers Association?s annual Economic Leadership Forum
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Outlook for Economic and Banking Conditions
Philadelphia Fed President and CEO Patrick Harker told an audience at a Risk Management Association event in Philadelphia that he will “closely watch the data before making any decisions on moving the policy rate in either direction.” He said that “impacts from lingering uncertainties,” including labor strikes, resuming student loan payments, and international events “each come with their own set of economic effects.” Since the banking sector in the Third District weathered the spring banking turmoil, he noted that “Customers can have faith in their deposits and in their ...
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The Opportunities of a Tight Labor Market
Describing the U.S. economy as in “good shape,” Philadelphia Fed President Patrick Harker said he thought monetary policy should remain unchanged. “My own view right now is that we should hold steady for a while and watch how developments and the data unfold before taking any more action,” he told the Main Line Chamber of Commerce on February 12 in Malvern, PA.
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Adaptation: How Educators and Employees Evolve to Meet the Needs of a Changing Landscape
"The changing landscape of the labor market offers an opportunity to assess how we?re preparing today?s students for tomorrow?s jobs,? said Philadelphia Fed President Patrick T. Harker today in his remarks on the role of higher education
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Investing in America’s Workforce Book Launch
Business must "start viewing workforce development as an investment, rather than a social service," said Philadelphia Fed President Patrick Harker in his remarks today. He was speaking at the launch of Investing in America's Workforce: Improving Outcomes for Workers and Employers, a book based on Federal Reserve System research.
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The Importance of Infrastructure
The labor market is ?more or less at full health,? said Federal Reserve Bank of Philadelphia President Patrick T. Harker today during an urban infrastructure conference at Drexel University. He also discussed the importance of infrastructure and how transportation and housing must evolve to meet the demands of a changing population.