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Home Banking Harker favours ‘skip’ in US interest rate tightening, and more

Harker favours ‘skip’ in US interest rate tightening, and more

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Harker favours ‘skip’ in US interest rate tightening By OMFIF editors

The Federal Reserve should ‘skip’ a further increase in interest rates at its next rate-setting meeting on 13-14 June, according to Patrick Harker, president of the Federal Reserve Bank of Philadelphia. At an OMFIF and Philadelphia Fed meeting, Harker laid down a policy of trying to bring back inflation to around 2% over a more extended period, rather than trying to ‘dramatically’ cut it and unduly harm the labour market.

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