{"id":106870,"date":"2021-02-11T23:21:18","date_gmt":"2021-02-11T23:21:18","guid":{"rendered":"https:\/\/fin2me.com\/?p=106870"},"modified":"2021-02-11T23:21:18","modified_gmt":"2021-02-11T23:21:18","slug":"feds-harker-says-inflation-wont-be-posing-a-threat-anytime-soon","status":"publish","type":"post","link":"https:\/\/fin2me.com\/business\/feds-harker-says-inflation-wont-be-posing-a-threat-anytime-soon\/","title":{"rendered":"Fed&#x27;s Harker says inflation won&#x27;t be posing a threat anytime soon"},"content":{"rendered":"<ul>\n<li>Philadelphia Fed President Patrick Harker told CNBC on Thursday that inflation only will be a problem if it shows a sharp acceleration. <\/li>\n<li>&quot;We&#x27;re clearly committed as [a Federal Open Market Committee] to exceed 2% for a period of time, but it has to be sustainably above 2% for a period of time,\u201d he said.<\/li>\n<\/ul>\n<p>Philadelphia Federal Reserve President Patrick Harker said Thursday that the central bank won&#x27;t have to worry about inflation getting in its way anytime soon.<\/p>\n<p>In a CNBC interview, Harker faced a question posed repeatedly to Fed officials in recent days over whether its easy monetary policy could stoke price pressures and interfere with what he described as &quot;a pretty choppy economy.&quot;<\/p>\n<p>Inflation has stayed well below the Fed&#x27;s traditional 2% target, with the January Consumer Price Index reading earlier this week reinforcing that while some areas of the economy are experiencing increases, the overall picture remains muted.<\/p>\n<p>&quot;What I look at is not only the level of inflation but also is it accelerating or decelerating,&quot; he said on &quot;Closing Bell.&quot; &quot;We&#x27;re clearly committed as [a Federal Open Market Committee] to exceed 2% for a period of time, but it has to be sustainably above 2% for a period of time.&quot;<\/p>\n<p>The FOMC codified that commitment last year when it adopted a policy of flexible average inflation targeting. That means that inflation can run above 2% for a while before the Fed will step in with rate increases.<\/p>\n<p>Fed officials feel that allowing the economy to run hotter for a period will help not only reduce unemployment, currently at 6.3%, but also make job gains more inclusive in terms of rate and income.<\/p>\n<p>Harker said inflation could present problems down the road but is not a factor now.<\/p>\n<p>&quot;I don&#x27;t see it roaring past 2% anytime soon, so I&#x27;m not so worried about that risk right now,&quot; he said. &quot;In the medium or longer run, yeah, sure, it&#x27;s something we have to take into account. But not now.&quot;<\/p>\n<p>The Philadelphia Fed joined forces with the Cleveland Fed to roll out a tool called the Occupational Mobility Explorer. The tool seeks to match displaced workers with jobs that require similar skill sets but pay more.<\/p>\n<p>&quot;I think this tool is incredibly powerful, and the moment is right now to start using it,&quot; he said.<\/p>\n<p>Source: <a href=\"https:\/\/www.cnbc.com\/2021\/02\/11\/feds-harker-says-inflation-wont-be-posing-a-threat-anytime-soon.html\" target=\"_blank\" rel=\"noopener noreferrer\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Philadelphia Fed President Patrick Harker told CNBC on Thursday that inflation only will be a problem if it shows a sharp acceleration. &quot;We&#x27;re clearly committed [&#8230;]<\/p>\n","protected":false},"author":3,"featured_media":106869,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Fed&#x27;s Harker says inflation won&#x27;t be posing a threat anytime soon - 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