US NOV FLASH MANUF PMI 48.8 (FCST: 48.9); OCT 48.5

MNI:Largest Canada New Home Price Dip Since `09 Led By Toronto

CANADIAN OCT FLASH RETAIL SALES +0.7%, 4TH STRAIGHT INCREASE

MNI China Daily Summary: Friday, November 22

MNI: PBOC Net Drains CNY345.9 Bln via OMO Friday

MNI BRIEF: Fed Should Explore Central Clearing At SRF-Hammack

EZ/UK T-Bill Calendar: Germany, France Auction on Monday

EZ/UK Bond Supply Calendar: Gilt Syndi; IT, EU Due Monday

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT FINAL NOV INDEX 71.8

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

MNI EXCLUSIVE: German Turmoil Dashes EU's Joint-Funding Hopes -Officials

FED: Powell's Time Looks Up, Replacement Could Be Less Willing To Cut Rates?

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

MNI: Fed's Harker Sees 1 Rate Cut By Year-End

FED
  • (MNI) Federal Reserve Bank of Philadelphia President Patrick Harker said Monday he expects one interest rate cut by year-end if data meet his forecasts, calling the latest inflation report "quite promising" in signaling that progress on disinflation has resumed.
  • "I have a forecast for inflation, employment, and economic activity: slowing but above trend growth, a modest rise in the unemployment rate, and a long glide back to target for inflation," he said in remarks prepared for a Global Interdependence Center conference in Philadelphia.
  • "And if all of it happens to be as forecasted, I think one rate cut would be appropriate by year’s end." He cautioned against taking that as a "lock-down commitment" and said he will stay data dependent.
  • "Indeed, I see two cuts, or none, for this year as quite possible if the data break one way or another."
  • "The latest inflation data have been quite promising that progress on disinflation has resumed. But 'promising' falls short of the confidence I want to have, before cutting rates, that inflation is on a sustainable path back to target," Harker said.
Metals bulletEM BulletHomepagemarkets-real-timeCreditCommoditiesEmerging Market NewsEnergy BulletsBulletMarketsFixed Income BulletsForeign Exchange BulletsFOMC Calendar Market News
Metals bulletEM BulletHomepagemarkets-real-timeCreditCommoditiesEmerging Market NewsEnergy BulletsBulletMarketsFixed Income BulletsForeign Exchange BulletsFOMC Calendar Market News

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.