The Cleveland president said the central bank should be providing markets more information about what is influencing policy.
That's contrary to the conventional Street wisdom which ties the low rates and money-printing to an 11-year market bull run.
"It can't be done overnight. It has to be done overtime. But with interest rates low, that gives us time," Phillip Swagel said Thursday.
Shelton defended herself as an "outside the box" thinker who would bring her own experience and ideas to the Fed.
Live updates of what's moving the market, including the latest on the coronavirus, Tesla and Cisco Systems.
U.S. stock futures were pointing to declines at Thursday's open, with Wall Street set to give back a large chunk of the prior session's strong gains.
Treasury yields fell on Thursday, following a sharp rise in the reported number of new coronavirus deaths.
Harker endorsed a wait-and-see approach following a year in which the Fed cut three times.
Live updates of what's moving the market, including the latest on the coronavirus and earnings from companies such as Lyft and CVS Health.
U.S. stock futures were pointing to a higher Wall Street open on Wednesday as shares of companies impacted by the coronavirus rebounded
Fed Chair Jerome Powell acknowledged that Facebook's Libra project was a "wake-up call" but said there are still "many questions that need to be answered around digital currency for the United States."
Treasury yields climbed for a second day on Wednesday as investors shrugged off the potential economic impact of China's fast-spreading coronavirus.
S&P 500 and Nasdaq eke out fresh record closing highs
Live updates of what's moving the market, including the latest on Under Armour, the coronavirus and the Fed.
U.S. stock futures were pointing to a higher Wall Street open on Tuesday, with the Dow less than 0.5% away from record highs.
U.S. debt yields rose Tuesday as investors digested the first day of Federal Reserve Chairman Jerome Powell's testimony to lawmakers.
Federal Reserve Chairman Jerome Powell heads to Capitol Hill on Tuesday at a touchy juncture.
U.S. stock futures were pointing to a lower open Monday for the Dow. Despite Friday's nearly 1% decline, the Dow finished the week 3% higher.