Philly Fed Chief Says 1 Rate Possible in 2019

April 4, 2019 Share Print 0

A strong U.S. job market and near-target inflation will warrant “at most” one interest rate increase in 2019 and one in 2020, Federal Reserve Bank of Philadelphia President Patrick Harker said on Thursday.

Harker gave a similar assessment of the U.S. rate outlook on March 25. On Thursday, he said the U.S. jobless rate was likely to fall to 3.5 percent this year and inflation would likely be just above the Fed’s 2 percent target this year and next.

“There are certainly aspects of the economy — the strength of the labor market, for instance — that point to a fundamentally sound U.S. economy,” he said in prepared remarks for an event with business economists.

via Reuters

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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.