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Fed's Harker: Disappointing Jobs Report Doesn't Necessitate Rate Cut This Week
Summary: During an interview with Bloomberg, Philadelphia Fed President Harker, a 2026 FOMC voter, stated that the nonfarm payroll report released on Friday was 'disappointing,' but it does not mean the Fed should cut rates at this week's policy meeting. Harker said, 'I am confident in the decision we made earlier this week, despite weaker than ...
During an interview with Bloomberg, Philadelphia Fed President Harker, a 2026 FOMC voter, stated that the nonfarm payroll report released on Friday was 'disappointing,' but it does not mean the Fed should cut rates at this week's policy meeting. Harker said, 'I am confident in the decision we made earlier this week, despite weaker than expected July job data, we must look at the data comprehensively. As I review the current situation, I find the labor market remains fundamentally balanced. Emphasizing again, today's report is just a report, monitoring labor conditions is crucial in the context of still elevated inflation.'
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Link: Fed's Harker: Disappointing Jobs Report Doesn't Necessitate Rate Cut This Week [Copy]
