Washington – Fed’s Harker Says U.S. Economy Doing Well Overall

Washington – The U.S. economy is “doing really well” overall, Philadelphia Federal Reserve Bank president Patrick Harker said on Friday, in a speech that was long on a Fed program aimed at promoting economic mobility and short on broader economic or monetary policy themes.

“The reality of the tight labor market means that employers have to start thinking creatively and long term about how they’re going to address the gaps in their workforces,” Harker said in remarks prepared for delivery in Philadelphia. The Philadelphia Fed’s Economic Growth & Mobility Project, he said, works with local community groups and businesses to develop job training and transit options.