NEW YORK—While he does not expect inflation to spiral out of control, Philadelphia Federal Reserve Bank President Patrick Harker said he is worried inflationary pressures may not be as transient as expected. “I am in the camp of being more worried that inflation isn’t as transient as we think,” Harker said during a virtual event…
Fed’s Harker Says He Worries Inflation Won’t Be as Transient as Expected
Exclusive: Fed’s Harker Says Economy Close to Achieving Inflation Goal for Rate Hikes
October 2, 2021
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The U.S. Federal Reserve may be close to meeting the inflation mandate set for raising interest rates, Philadelphia Fed Bank President Patrick Harker said, but it may be a year or longer before the central bank’s employment goal is met to allow for an actual rate increase. After running high this year because of the…
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