Fed's Harker: Open to 4 rate hikes in 2018 if inflation accelerates

Philadelphia Fed President Patrick Harker is crossing the news wires saying that he is open to four rate hikes in 2018 if inflation accelerates, as reported by Reuters.

Key quotes

  • U.S. Inflation moving toward target, not accelerating past it; latest data is good news.
  • Would be comfortable with 2.5 pct preferred inflation measure.
  • Fed would need to act with more rate hikes if inflation 'accelerates' past 2 pct target.
  • Not yet seeing U.S. Labor market hit from new trade tariffs.
  • Backs three rate hikes in 2018 for now; Fed should avoid inverting yield curve unnecessarily.

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