Fed Hawk: Fed Still Likely to Cut Rates Later This Year

BlockBeats News, June 7th, Philadelphia Fed President Harker stated that as the U.S. financial system faces increasingly growing challenges, the deficit must be controlled, and he is "very concerned" about the current government's fiscal situation.

Harker also stated: "On key data, we are becoming increasingly blind. We are concerned that the quality of economic data is declining. Uncertainty is making it very difficult to predict the monetary policy outlook. However, amid this uncertainty, the Fed may still cut interest rates later this year."