Philadelphia Fed President Harker: Current policy remains restrictive, expects interest rates to "decline over the long term"

In 2026, the Philadelphia Federal Reserve President Harker optimistically expects that the Federal Reserve's policy interest rate can "decline in the long term." He believes that the current monetary policy is in a good position and remains restrictive even after three rate cuts last year. Harker supports the decision to maintain interest rates unchanged last month and believes that the current interest rate level is sufficient to bring inflation down to the Federal Reserve's 2% target within the next two years