Philadelphia Federal Reserve President Patrick Harker reiterated on Wednesday that he is ready for the U.S. central bank to move to a slower pace of interest rate rises amid some signs that hot inflation is cooling.
"High inflation is a scourge, leading to economic inefficiencies and hurting Americans of limited means disproportionately," Harker said in a speech that closely followed. To get inflation under control, the Fed's "goal is to slow the economy modestly and to bring demand more in line with supply," he told a group in Newark, Delaware.
"I expect that we will raise rates a few more times this year, though, to my mind, the days of us raising them 75 basis points at a time have surely passed," Harker said in reference to the supercharged rate hiking cycle embraced by the Fed last year. Harker said he is expecting the Fed to get rates over 5% and added that uncertainty about the stopping point is why the central bank should slow the pace of its rate hikes.
Harker also said that it will be some time before the central bank will be able to lower rates, while adding that the decision will be driven by the economic data then in hand.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Fed's Harker reiterates support for moving to 25bp rate hikesReuters reports that Philadelphia Federal Reserve President Patrick Harker reiterated on Wednesday that he's ready for the US central bank to move to
Lire la suite »
Police: Man dead after being shot in the face and stomach in North PhiladelphiaPhiladelphia police are investigating a shooting that left one man dead in North Philadelphia Monday night.
Lire la suite »
Person with weapon shot by security outside of federal court building in Philadelphia, sources saySources tell FOX 29 that a person with a weapon was shot by security outside of the federal court building.
Lire la suite »
Security Officer Shoots Man With Knives in Front of Federal Building in PhiladelphiaA court security officer shot a man who federal investigators said got out of a minivan holding two knives and approached the officer in front of the federal courthouse in Philadelphia Tuesday morning.
Lire la suite »
Security officer shoots man outside federal courthouse in PhiladelphiaWhen a security officer approached the minivan, a man got out and was armed with 'multiple edged weapons,' according to a spokesperson.
Lire la suite »
Security staff shoots man near Philadelphia’s federal court house and detention centerDaily News | Security staff shoots man near Philadelphia’s federal court house and detention center
Lire la suite »