Harker Keen For Fed Not to Fall Behind the Curve

The Federal Reserve should plan to raise interest rates twice more this year so to avoid getting behind the curve but also to avoid rushing its tightening plans, Philadelphia Fed President Patrick Harker repeated on Monday.

“I still think that’s the right call,” he said of the pace of rate hikes, which is in line with the median Fed forecasts, and which he called “gradual.”

“I don’t want to get behind the curve, but I don’t think we need to rush, either,” he added in a speech at the University of Pennsylvania on digital money.

Reuters

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Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.