CEOInterviews.AI
Start App
Try: AI strategy tariffs earnings guidance layoffs interest rates growth

Patrick Harker

Former President and CEO, Federal Reserve Bank of Philadelphia

Search every verified Patrick Harker interview, podcast appearance, and on-the-record quote — each transcript cross-checked by AI and human review to confirm speaker identity. Patrick Harker, former president and CEO of the Federal Reserve Bank of Philadelphia, has commented on Federal Reserve Chair Kevin Warsh's August 2026 Jackson Hole speech, stating that the Fed and markets have a reciprocal relationship that will persist. He expressed concern about consistency in Fed policy, noting that the U.S. is at de facto full employment while facing an academic debate about whether AI-driven industrial production increases will sustain above-trend productivity growth. Harker also said he was disappointed that Warsh's speech did not address taking action on rates, and he observed that committee members, including centrist Susan Collins, are pushing for a rate increase. In earlier remarks from August 2024, Harker identified inflation, the Treasury market, and the fiscal situation as three key issues facing Warsh. He argued that raising the Fed funds rate, while unlikely to affect long-term yields, would serve as an important signal of the Fed's commitment to fighting inflation. Harker also discussed the economic impact of AI buildout, describing it as a rapid capital investment that will take time to translate into productivity gains, and he characterized recent supply shocks as deliberate actions by nation states or domestic policy rather than traditional random shocks.

Recent appearances

Verified interview transcripts

Notable quotes

“We are not at this point entertaining the idea of creating a Fed central bank digital currency — we continue to research it, but we would not do it unless Congress authorizes us to do so; we would not do it on our own.”

“I remain optimistic that inflation will continue a downward path and the policy rate will be able to decline over the longer run, though that does not mean there are not areas of potential concern and many uncertainties remain.”

“We need to remain data dependent — looking for underlying conditions, parsing the underlying trend from month-to-month noise — and continue letting monetary policy do its work while the data roll in.”

“Two and a half weeks ago the FOMC voted to hold the policy interest rate steady at 4.25 to 4.5 percent — I was fully in support of that decision — and across the final three FOMC meetings of 2024 the committee decided to reduce the policy rate by a full percentage point, recalibrating monetary policy to a position that remains restrictive but less so than last summer.”

The summary and quote tags on this profile are produced with AI assistance from verified, first-person interview transcripts, then checked by our team to confirm the speaker's identity and the accuracy of every quote. See how we verify →