Federal Reserve's Harker: no rush to raise interest rates

Federal Reserves Harker speaking in a Q&E session has said, dovishly, that he is not seeing a rapid acceleration of inflation or even a precursor to it.

Further comments from the chief executive officer of the Third District Federal Reserve Bank, at Philadelphia:

• Fed’s Harker: prudent to continue rate hikes from near zero ‘judiciously & when we can’.
• Fed’s Harker: sees 2 more rate hikes in 2018, says could possibly support an additional rate hike.
• Fed's Harker: U.S. Economy is progressing just fine; unemployment likely to keep falling.
• Fed’s Harker: monetary policy is ‘ill-equipped’ to fine-tuning.
• Fed’s Harker: favours pausing once the Fed reaches a neutral position.

About Patrick T. Harker

Patrick T. Harker took office on July 1, 2015, as the eleventh president and chief executive officer of the Third District Federal Reserve Bank, at Philadelphia. In 2016, he serves as an alternate voting member of the Federal Open Market Committee.