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MNI BRIEF: Fed’s Harker- Markets Need Time To Respond To Hikes

(MNI) Washington

The Federal Reserve needs to raise interest rates to more neutral levels fast but not so fast that it disrupts markets’ ability to respond, Philadelphia Fed President Patrick Harker said Wednesday.

“I want to get to neutral ... as expeditiously as possible but not so quickly that we distort markets and we can’t let the markets respond appropriately,” he said.

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The Federal Reserve needs to raise interest rates to more neutral levels fast but not so fast that it disrupts markets’ ability to respond, Philadelphia Fed President Patrick Harker said Wednesday.

“I want to get to neutral ... as expeditiously as possible but not so quickly that we distort markets and we can’t let the markets respond appropriately,” he said.

Keep reading...Show less