Fed's Harker: Fed does not need to act right now

In an interview with Bloomberg TV, Philly Fed President said that he did not see any shocks happening to the economy right now and argued that the Fed does not need to act right now. Below are some additional quotes, as reported by Reuters.

"Inflation clearly is a conundrum."

"I don't think we should move precipitously in either direction."

"Lower rates would lead to higher leverage, which is a concern for the US economy."

"US is close enough to 2% inflation that we do not need to take action at this point."

"I don't see inflation running out of control as a risk right now."

"I have not not yet changed economic outlook based on trade wars."

Meanwhile, the US Dollar Index stays calm near as investors are waiting for FOMC Chairman Powell to deliver his speech.