Comments from Federal Reserve Bank of Philadelphia's Patrick Harker

  • Federal Reserve has very limited power to boost growth prospects for the U.S. economy
  • US economy will likely grow at only subdued levels over the next few years
  • Says fiscal policies would boost the economy's potential
  • Uncertainty over potential growth is "at the heart of the genuine disagreements" FOMC members have over rate decisions
  • Even the best monetary policy "can affect these factors only marginally"

via Reuters