Fed's Harker: two rate hikes this year are likely to appropriate

Haresh Menghani FXStreet

Philadelphia Federal Reserve Bank President Patrick Harker, during a scheduled speech at Saint Louis University, was noted saying that two Fed rate hikes this year are likely appropriate.

Additional quotes:

• Sees US GDP growth at 2.5% this year, 2% next year
• Sees US unemployment falling to 3.6% by mid-2019, then edging up
• US inflation to reach or exceed 2% goal by end of 2019

The comments seems to have dampened expectations of any hawkish surprise from today's FOMC meeting minutes and prompted modest US Dollar selling in the past hour or so.

Author

Haresh Menghani

FXStreet

Haresh Menghani is a detail-oriented professional with 10+ years of extensive experience in analysing the global financial markets.

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