Fed's Harker: Amid uncertainty, the Fed must wait and see on next policy steps

Federal Reserve (Fed) Bank of Philadelphia President Patrick Harker added his own perspective to comments from other Fed officials earlier in the day, noting that whiplash trade policies from the Trump administration are making it difficult for Fed officials to move on policy rates.

Key highlights

Amid uncertainty, the Fed must wait and see on next policy steps.

There's still no idea how shifting economic policies will affect the economy.

Slow disinflation by itself justifies the Fed holding steady on interest rates.

It is entirely possible that the Fed may face rising inflation and unemployment at the same time.

Hard data have remained robust.

The US economy is resilient, but there are stresses in the foundation.

The economy faces many different possible paths.

Thus far, the job market has been mostly stable.