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 Market Analyst - UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a Market Analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary. His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and BNN. Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
Craig Erlam