Fed Officials, Including Harker, Advocate Gradual, Methodical Interest Rate Cuts Starting in September

Federal Reserve officials are advocating for a gradual approach to interest rate cuts, with Philadelphia Fed President Patrick Harker emphasizing the need for methodical reductions starting as early as September. Harker stated that any cuts should allow the business community to digest the changes slowly, indicating a careful strategy in response to economic conditions. Other Fed presidents have echoed similar sentiments, using terms like 'gradual' and 'methodical' to describe the anticipated pace of rate reductions. This discussion reflects a broader consensus among Fed officials about the timing and manner of potential interest rate adjustments.