Fed's Harker: The low income consumer is clearly slowing down

<ul><li>We are seeing an uptick in labor productivity</li><li>The low income consumer is clearly slowing down</li><li>Consumer credit card delinquencies are starting to tick up </li><li>Repeats that they probably have done enough on interest rates, wants to see where demand settles out</li><li>Student loans won't have a big economic effect but it will be a psychological effect</li><li>I want to see softening in the labor market, notably in the services sector</li><li>At this point, I see the Fed holding steady this year while next year is data driven</li><li>Need to see inflation falling before would be willing to cut rates.</li></ul><p>Earlier this month, Harker made waves when he <a href="https://www.forexlive.com/centralbank/feds-harker-i-believe-we-may-be-at-the-point-where-we-can-hold-rates-steady-20230808/" target="_blank" rel="follow">said </a>he believes we may be at the point where we can hold rates steady, barring any 'alarming' data.</p>

This article was written by Adam Button at www.forexlive.com.