Fed's Harker: As long as the data doesn't surprise, the rate cut process should be initiated.

Golden Ten Data, August 22nd news, Philadelphia Federal Reserve Chairman Harker said on Thursday that he supports a rate cut in September as long as the data performs as expected. Harker said in an interview, 'For me, if the data we get from now until then doesn't have any surprises, I think we need to start the rate cut process.' Harker said that the scale of any specific action is less important than the overall rate cut, and he pointed out, 'I think a slow and steady rate cut is the right approach.' He said that the business people he has been in contact with have called for predictable action and do not want a rate cut to be followed by a radical rate hike in the spring of 2022, when the interest rate will be increased from near zero.