Fed's Harker: Still pencils in a rate hike in December, three rate hikes for next year
|Philadelphia Fed President Patrick Harker recently crossed the news wires saying that hitting the pause on the Fed's rate hikes would be appropriate.
Key quotes (via Reuters):
- The labor markets felt really tight.
- Horrific devastation from hurricanes will have transitory effect on the economy
- Low growth in wages may be due to shift in who is employed, starting to see some upward wage pressure
- For average American low inflation is not a problem, but there are risks for monetary policy
- Still pencils in a rate hike in December, three rate hikes for next year
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