Fed's Harker: The Federal Reserve has performed well in guiding the economy

Philadelphia Federal Reserve Bank President Harker stated that in the past few years, the Fed has effectively responded to challenging economic conditions. Harker did not make any forward-looking comments on monetary policy or economic prospects. He described the Fed's policy as viewing the economy in a broad sense and letting incoming data set the policy path. Harker said: "In the past 30 months, I believe we have proven ourselves to be good drivers of the economy."