Philadelphia Federal Reserve President Patrick Harker claimed, in prepared remarks for the Delaware State Chamber of Commerce, that the central bank can...
." In September, the FOMC made the decision to hold rates steady, waiting to see how the economy unfolds. While surging treasury yields have brought inflation down, with all the economic headwinds and geopolitical conflicts, some analysts are skeptical of Harker's announcement.
In regards to the ongoing conflict, Mayfield explains that the Fed's main concern is domestic economy. However, Mayfield says,"If there's a shock at the pump and consumers incorporate higher gas prices into their inflation expectations, it can kind of feed the inflationary beast and the Fed would have to respond to that. It might add a little complexity to their job, but I think they'll remain focused on the domestic economy first and foremost.
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