News

NEW YORK (Reuters) -Federal Reserve Bank of Philadelphia President Patrick Harker said Thursday he was on board with a September rate cut as long as the data performs as he expects it to, and cautioned that it's better to focus on the prospect of a steady course of easing rather than on the size of a given policy action. When it comes to an imminent move down in the cost of short-term borrowing, “for me, barring any surprise in the data we'll get between now and then, I think we need to start this process” of lowering rates, Harker said in an interview with Reuters as he attends the Kansas City Fed’s annual research conference in Jackson Hole, Wyoming. Harker said the size of any given move was less important than how the overall scope of cuts plays out, noting “I think a slow, methodical approach down is the right way to go.”

(Bloomberg) -- Two Federal Reserve officials said they believe it’s appropriate for the US central bank to begin lowering interest rates soon, and that the pace of subsequent cutting should be “gradual” and “methodical.”Most Read from BloombergChicago's Migrant Surge Is Stirring Trouble for Democrats in DNC Host CityUK Transport Minister Clears Path for More 20mph Speed ZonesWith Self-Driving Vans, Hamburg Tries to Make Microtransit WorkThe Serious Work That Free Play Can DoBoston Fed President

Debate on how quickly the labor market is cooling remains at the center of the discussion surrounding Federal Reserve interest rate cuts.

(Bloomberg) -- Turkey’s minimum wage outlook is already being gamed out for clues that President Recep Tayyip Erdogan will dial back populist economic policies and deliver on a commitment to curb one of the world’s highest rates of inflation.Most Read from BloombergChicago's Migrant Surge Is Stirring Trouble for Democrats in DNC Host CityUK Transport Minister Clears Path for More 20mph Speed ZonesWith Self-Driving Vans, Hamburg Tries to Make Microtransit WorkThe Serious Work That Free Play Can D