Fed's Harker on CBNC
- I think we're there on headline inflation and moving in the right direction on core
- There will be an inflation overshoot
- I haven't forecast fiscal policy into my forecasts, the devil is in the details
- Confidence needs to translate into action and we haven't seen that to a large extent
- Business leaders want to see the specifics before they make investments
- I wouldn't rule out anything, including hiking more than 3 times
- I think every meeting should be a live meeting
- The mix of Fed's balance sheet has served us well but I think we should tilt more towards Treasuries
Some of the headlines circulating saying he said the 'Fed can't rule out more than 3 hikes' but that's a bit disingenuous. He really said the Fed couldn't rule out anything, he wasn't trying to make any kind of hint. He was asked about more t
CNBC's Leisman: "If [hypothetical] government policies raise output, is it fair that maybe one should be thinking about more than three rate hikes"
Harker: "Possibly. I wouldn't rule anything out at this point but we need to see how this plays out."
