Harker (Fed) calls for "start" rate cuts "barring surprises in the data"

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By TP

Philadelphia Federal Reserve President Patrick Harker, He has shown himself to be a supporter of this Thursday, during the first day of the Jackson Hole Symposium, start interest rate cuts unless there are «surprises» in economic indicators which will be published over the next few weeks. «For me, Barring any surprises in the data we get between now and then, I think we should start this process.«, he said in reference to a possible monetary easing in an interview given to 'Reuters'. In addition, he has opted for a cycle of moderate cuts, since he considers that «A slow and methodical approach is the right way to go«Markets have been expecting a rate cut at the Fed's September meeting for months, and the minutes of the meeting published on Wednesday almost confirmed this possibility, by indicating that a rate cut next month was «probable.»
Now all eyes are on the central bank president, Jerome Powellwho will speak at Jackson Hole on Friday to possibly clarify doubts about the Fed's future intentions.