Patrick Harker, CEO of the Philadelphia Federal Reserve, commented on US inflation and economic sentiments today, pointing to rising inflation risks, despite lower confidence across the US businesses and consumers. Here are the remarks.
Fed's Harker Dispersion of dot plot says a lot, it is not group thinking. I am increasing worried about state of government deficits. With all this uncertainty, we don't want to move quickly. I am worried that decline in inflation pressure is at risk. Business and consumer confidence is waning, which is not good. The economy generally looks ok, but there are threats to this. I am worried more and more about factors that could threaten dollar reserve status. It is a work in progress to align to executive orders.
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