Fed’s Harker said Better to Wait until After Elections for Rate Hike

The Federal Reserve might want to wait on policy changes until after the U.S. presidential election on Nov. 8, Philadelphia Fed President Patrick Harker said on Thursday, adding he was in favor of a rate increase at the Fed’s September policy meeting.

“What I’m worried about is depending on the outcome of the election and what happens after that, if there are polices that would have distortive effects that we would have to respond to, we’ll have to respond. And I don’t know which way that will go. But it may be prudent to wait until we have resolved some of that uncertainty,” he told reporters in Philadelphia.

via Reuters

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza