MNI BRIEF: Fed's Harker Supports A Skip At June Meeting

Philadelphia Federal Reserve President Patrick Harker on Wednesday said he advocates skipping an interest-rate hike at the next meeting and stressed the end to the tightening campaign isn't certain.

"We can take our time," Harker said at an event hosted by OMFIF. "I'm definitely thinking about skipping any increase in this meeting, barring what we see in [the data in] the next few days."

(See: MNI INTERVIEW: Fed Seen Pausing In June, Could Restart-Acharya)

"We have to be ready that we might have to do more in subsequent meetings," he said, explaining why he supports a June rate hike skip rather than a pause. "It's important that a pause says we're going to hold there for a while and we may at some point hold at a place for a while, but I don't know that."