Q&A with Harker
- Fed must be data dependant and not data point dependant
- Q1 GDP will be weak
- US continues to move ahead despite headwinds
- At some point Fed will move away from zero
- Another 25bp hike is still quite accommodative Fed policy
- There's a very high bar before using negative rates in the US
- Negative rates could be like pushing on a rope
- There are limits to what monetary policy can do
There's probably few who think that Q1 GDP will be amazing but that's a big signal that it could be rubbish. The first Q1 release is 28th Feb
And it's over