Philadelphia Federal Reserve President Patrick Harker told CNBC on Monday that he won't be able to judge the economic impact of President Donald Trump's fiscal agenda until it's fleshed out.
"I don't know what exactly those policies are yet," Harker said on "Squawk on the Street," referring to promises of broad tax cuts and $1 trillion in infrastructure spending.
"Once we see something that looks likely ... then I can factor that in," he said.
Harker, a voting member this year on the Fed's policy-setting committee, acknowledged the rise in consumer and business confidence since Trump won the election.
"[But] confidence has to translate into action," he argued, something he said he's yet to see in his region. Businesses want specifics on policy before increasing investment, he added.