Fed’s Harker says he still expects to raise rates in December

Finance


Charles Mostoller | Bloomberg | Getty Images

Patrick Harker, president of the Federal Reserve Bank of Philadelphia.

Philadelphia Federal Reserve Bank President Patrick Harker said Friday he still has “penciled in” an interest rate hike in December, and three more rate hikes next year, despite weak inflation.

“Labor markets feel really tight,” Harker said at a conference in Philadelphia on Fintech, adding that it was appropriate for the Fed to take a pause for now in raising rates as it begins to shrink its $4.5 trillion balance sheet. Low inflation is a concern, especially since the Fed may be under-estimating productivity, which means it may also be over-estimating inflation.



Source link

Products You May Like

Articles You May Like

How has Southwest Airlines responded in wake of its fatal accident?
Fine for Barclays CEO likely less than $2 million: Sources
Hasbro reports first quarter earnings 2018
Wells Fargo agrees to pay $1 billion to settle over loan abuses
This simple form can keep you from overpaying for medical care

Leave a Reply

Your email address will not be published. Required fields are marked *