- G10 Markets
- Fixed Income
- Foreign Exchange
- Emerging Markets
- MNI Research
- Global Macro
- Political Risk
- About Us
Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.LATEST FROM POLICY:
- G10 MarketsG10 Markets
Real-time insight on key fixed income and fx markets.Launch MNI PodcastsFixed Income FI Market AnalysisCentral Bank PreviewsFI PiEurozone/UK Bond Auction CalendarEurozone/UK T-bill Auction CalendarUS Treasury Auction Calendar US$ Credit Supply Pipeline Fixed Income Technical Analysis EGB Issuance, Redemption and Cash Flow Matrix Gilt Week Ahead
- Emerging MarketsEmerging Markets
Real-time insight of emerging markets in CEMEA, Asia and LatAm region
Real-time insight of oil & gas markets
Reporting on key macro data at the time of release.LATEST FROM DATA:
- MNI ResearchMNI Research
Actionable insight on monetary policy, balance sheet and inflation with focus on global issuance. Analysis on key political risk impacting the global markets.Global Macro Central Bank PreviewsCentral Bank ReviewsBalance Sheet AnalysisInflation InsightGlobal IssuanceEurozoneUKUSOverviewGlobal Issuance CalendarsEZ/UK Bond Auction CalendarEZ/UK T-bill Auction CalendarUS Treasury Auction Calendar
- About Us
Real-time Actionable Insight
Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.Free Access
MNI: Fed Is 'Likely Close' To Done On Tightening, Harker Says
The Federal Reserve is not yet finished raising interest rates to combat high inflation but is edging closer to that point, with a pause expected “at some point this year,” Philadelphia Fed President Patrick Harker said Tuesday.
“We are not done yet … but we are likely close,” Harker said in prepared remarks.
“At some point this year, I expect that the policy rate will be restrictive enough that we will hold rates in place and let monetary policy do its work. We are also shrinking our balance sheet, which is removing a significant amount of accommodation.”
Harker was speaking on a day when the latest CPI report for January showed further moderation, with headline inflation down a notch to 6.4% while core CPI climbed 5.6%, the smallest gain since December 2021.
“What’s encouraging is that even as we are raising rates, and seeing some signs that inflation is cooling, the national economy remains relatively healthy overall,” he said. “I’m most pleased that the labor market remains in excellent shape.”
The U.S. economy created more than half a million jobs in January while the jobless rate hit a new 50-year low of 3.4%.
“Rates are now at a level that allow us to slow down and proceed cautiously,” he said, reiterating his support for moving in quarter point increments.
To read the full story
Sign up now for free access to this content.
Please enter your details below and select your areas of interest.
Why Subscribe to
MNI is the leading providerof intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.
Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.