Fed's Harker: Economy 'pretty good', to grow 2% in 2020

Friday, 17. January 2020 15:09

President of the Federal Reserve Bank of Philadelphia Patrick Harker said on Friday he expects the United States economy will grow around 2% in 2020, while the country's inflation will reach the 2% target set by Federal Reserve.

Harker insisted that the Fed is making great efforts to normalize the balance sheet while conducting a "regime of ample reserves" monetary policy, adding the goals of this approach are to reduce asset purchases uncertainty and determine the necessary level of reserves.

He pointed out that the US labor market is topping expectations, as unemployment is lowering, but that the "geopolitical tensions and trade uncertainties" are causing business investments to hold back.

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Breaking the News / ND