Fed’s Harker: Not yet finished round of interest rate hikes to reduce inflation
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Philadelphia Fed President Patrick Harker said on Tuesday that in his view,” we are not done yet … but we are likely close,” Harker said in prepared remarks at an event in Philadelphia.
“At some point this year, I expect that the policy rate will be restrictive enough that we will hold rates in place and let monetary policy do its work.”
“I do think we will see a very slight uptick in unemployment, probably topping out modestly above 4 percent this year. It’s an underrated advantage that the Federal Reserve is taking on inflation from a position of such labor market strength,” Harker said.
More to come…
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