Fed’s Harker: soft landing possible, not forecasting recession

(Reuters) – Philadelphia Federal Reserve Financial institution President Patrick Harker on Wednesday stated he believes the central financial institution can deliver inflation down with out sending the economic system right into a recession, partly as a result of the labor market is at present sturdy.

“We might have just a few quarters of unfavorable development, however once more, that is not what I am estimating, what I am forecasting proper now,” Harker stated in a digital occasion with the Mid-Measurement Financial institution Coalition of America, including the economic system can stand up to a “measured” and “methodical” tightening of economic situations that will deliver down demand. “We do not need to overdo it, however we now have to behave.”

(Writing by Ann Saphir; Enhancing by Chris Reese)