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Aug 24, 2024 - 06:58
By asia.nikkei.com

Fed's Harker sees possible '2 to 3' rate cuts ahead this year

JACKSON HOLE, Wyoming -- Patrick Harker, the president of the Federal Reserve Bank of Philadelphia, said Friday that he supports two or three interest rate cuts in 2024, barring any substantial changes to U.S. economic data.

Assuming the central bank cuts rates by a quarter of a percentage point each time, "It's somewhere between two and three [cuts]," Harker said. "I'll let the data decide whether it's two this year or three."