Fed’s Harker ‘pencils in’ rate hike for December
Philadelphia Fed governor expects rates to rise 25bp before 2018
The governor of the Federal Reserve Bank of Philadelphia believes the US central bank will raise rates in December as it continues on its path to normalisation.
“I still have another 25 basis-point rate increase pencilled in for this year, although perhaps I should say, ‘lightly pencilled in’,” said Patrick Harker in a speech in Japan today (November 13).
Harker also offered his thoughts on the unwinding of the balance sheet.
“I’ve said before that this will be the policy equivalent of
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