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Mixed Feedback From Fed Liaison Channels

FED
  • Philly Fed’s Harker (’23 voter) echoes remarks from Richmond Fed’s Barkin (’24 voter) earlier this week that contacts suggest strong data are masking a weakening economy.
  • *HARKER: HEARING ECONOMY IS SOFTENING FASTER THAN THOUGHT - bbg
  • *HARKER: HEARING INFLATION EASING FASTER THAN THOUGHT - bbg
  • *HARKER: CONTACTS ARE ASKING FOR TIME TO ADJUST TO POLICY - bbg
  • However, Chair Powell yesterday at the Economic Club of NY appeared in contrast: *POWELL: BUSINESS LEADERS TOLD ME ECONOMY REMAINS STRONG - bbg

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