Philadelphia Fed President Patrick Harker said “my own view right now is that we should hold steady for a while and watch how developments and the data unfold before taking any more action.” He added, “we haven’t quite met our 2% inflation target, but we’re on track to get there.”
Harker also said it’s “too early to say what impact the spread of the coronavirus will have on the global economy, but the negative effects on the Chinese economy and international travel are something to watch”. He added, “If the situation gets significantly worse and we start to see significant impact on the U.S. economy, then we have to think about accommodating. But I don’t think we’re at that point right now.”
