Federal Reserve Bank of Philadelphia President Patrick Harker said the central bank should begin to reduce interest rates — though not immediately — offering a softer pushback against widespread market expectations of early-2024 cuts than some of his peers. “It’s important that we start to move rates down,” Harker said Wednesday in a local radio interview. “We don’t have to do it too fast, and we’re not going to do it right away.” “We should hold rates where they are and start to bring rates down,” he said. Harker’s comments were more supportive of the Fed’s next policy move being a cut than remarks by a handful of ... (full story)