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Highlighting the Labor Market’s New Complexities; Listening to Worker Voices

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  • Patrick T. Harker

Abstract

Speaking at a National Association for Business Economics webinar, Philadelphia Fed President and CEO Patrick Harker said he expects “inflation to decline to somewhere around 3.5 percent this year.” But Harker said that he “will be closely monitoring incoming data, listening to our contacts and audiences, and evaluating economic conditions to assess whether additional tightening will be needed.” Harker also stressed the importance of “soft data” to complete our picture of the labor market, urging the audience to read the Fed’s new Worker Voices report, which details what U.S. workers said they want in a series of focus groups: to be productive, valued, and “treated with dignity.”

Suggested Citation

  • Patrick T. Harker, 2023. "Highlighting the Labor Market’s New Complexities; Listening to Worker Voices," Speech 96563, Federal Reserve Bank of Philadelphia.
    • Handle: RePEc:fip:fedpsp:96563
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    File URL: https://www.philadelphiafed.org/-/media/frbp/assets/institutional/speeches/harker/2023/06-01-23-nabe-speech.pdf
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