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Harker Reiterates View, Outlines Need For Deliberate, Methodical Rate Hikes


Philly Fed President Harker (’23 voter) outlines the need for "a series of deliberate, methodical (rate) hikes" to combat inflation that he deems “far too high,” pointing to an ability to cool demand, given the supply-side inflationary forces are out of the central bank’s control. The speech saw Harker reiterate his views on monetary policy, while he noted that he expects inflation to ease to ~4% around the end of the year, before falling back to the central bank’s 2% target over the next couple of years. Harker also noted that the Fed’s Tsy & MBS holdings will start to shrink “soon.”

MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

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