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Philadelphia Fed Chief Patrick Harker Doesn’t See Rate Hikes Until Taper Is Complete

November 9, 2021 by Forex Winner Leave a Comment

Philadelphia Fed Chief Patrick Harker Doesn’t See Rate Hikes Until Taper Is Complete

Source: Reuters 

Philadelphia Fed President Patrick Harker says any hikes in interest rates will wait until the tapering of bond purchases is complete. SPY is up +0.085%, DXY is down -0.06%.

  • Harker still says the Fed is prepared to act in a high inflation environment if need be. He says inflation could moderate over the next year as imbalances of supply and demand weaken.
  • Harker expects more people to return to the labor market over time as stimulus programs wear out.
  • The Philadelphia Fed chief expects the US economy to expand by around 5.5% this year, before moderating to 4% next year. He sees a growth range of between 2% and 3% in 2023.

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