Philadelphia Fed president sees potential for two or three hikes in 2016
Patrick Harker warns of needs to avoid “aggressive policy actions” in the future
Federal Reserve Bank of Philadelphia president Patrick Harker has said two to three more interest rate hikes may be appropriate this year, as the economy picks up and the risks to normalising policy diminish.
In a speech on May 23 in Philadelphia, Harker said he feels the Fed has mostly met its maximum employment objective, while inflation will return to 2% over the medium term. As inflation rises, inflation expectations will recover, he said, eliminating "one of the risks to normalising policy"
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