According to PANews, Cleveland Federal Reserve President Harker, who is set to be a voting member of the Federal Open Market Committee (FOMC) in 2026, expressed his views in an interview with Bloomberg regarding the recent non-farm employment report released on Friday. Harker described the report as "disappointing" but emphasized that it does not warrant a rate cut at the upcoming policy meeting this week.
Harker conveyed confidence in the decisions made earlier this week, despite the weaker-than-expected employment data for July. He stressed the importance of examining the data comprehensively, noting that the labor market remains largely balanced. He reiterated that the report is just one piece of data and highlighted the significance of monitoring labor conditions, especially given the persistently high inflation rates.