Breitbart Business Digest: The Philly Fed’s Patrick Harker Thinks Interest Rates Are High Enough

, it would be a bit less comfortable with the idea that the haunting has been exorcised.they believe they have driven a stake through the heart of rising price levelson Monday that he believes it is time for the Fed to stop raising rates, reiterating a view he expressed last week. In a speech to the Mortgage Bankers’ Association entitled “Giving the Economy Time to Catch Its Breath,” Harker focused a lot of attention on the costs of higher rates.

After our last policy rate hike in July, I went on the record with my view that, if economic and financial conditions evolve roughly as I expect, we can hold rates where they are. And, so far, economic and financial conditions are evolving as I expected, perhaps even a tad better.Looking back, we did a lot, and we did it very fast. In fact, I heard that summation from some of your peers throughout the summer.

The workings of the economy cannot be rushed, and it will take some time for the full impact of the higher rates to be fully absorbed. What I have heard this summer is an appeal to give you and your customers the thing you wanted most: time to catch your breath.doing something. And I think we are doing quite a lot. Look where we are — headline PCE inflation remained elevated in August at 3.5 percent year over year, but it is down 3 percentage points from this time last year.

If this were a horror movie, that’s exactly the sort of thing one of the survivors of earlier attacks would sayIf the Federal Reserve’s policies are actually restrictive, it seems that someone forgot to tell the American consumer. Thewill be up by around 15 percent this year, to a record high of $12.2 billion. Spending on costumes is forecast to rise 13.9 percent. Spending on candy is set to rise 16.9 percent.

. The consensus is for overall sales to rise 0.2 percent for the month and for sales excluding gas and vehicles to inch up 0.1 percent. AnNetanyahu: 'Hamas Thought It Would Break Us, But We Will Break Hamas'WATCH: Hamas Releases First Purported Video of Israeli Hostage, Mia ShemJoe Biden’s Campaign Launches Account on Donald Trump’s Truth Social

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