While the Federal Reserve Bank of Philadelphia begins its search for CEO and President Patrick Harker's replacement — who is set to retire in June 2025 — the...
— who is set to retire in June 2025 — the US central bank published its Beige Book report. Harker previously told Yahoo Finance a 25-basis-point interest rate cut is more likely to happen at the Fed 's September meeting unless labor market conditions deteriorated.The Philadelphia Fed starting its search to replace President Patrick Harker .
If the labor market deteriorates suddenly, if we saw a substantial change in the labor market to the downside, then I would be open to a larger cut but not right now.Atlanta fed President Raphael Bostic shares that sentiment saying earlier today, he believes the Fed needs to start cutting rates before inflation hits 2% lest it disrupt the job market.
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