Attached Image (click to enlarge)
-
Fed's Harker says he still favors only one more interest-rate hike this year
Philadelphia Fed President Patrick Harker said Thursday he still favors only one more interest-rate hike this year even with fresh data released showing consumer price inflation rising at fastest pace in six years. In an interview with Bloomberg Television, Harker said he was open to supporting two interest-rate hikes this year, but only if inflation accelerates further. Consumer prices rose to a 12-month pace of 2.9% in June, the highest level since February 2012. The core rate edged up a more modest 2.3%. “Right now, I think we should take this slow and steady,” Harker said. If core inflation is “starting to ... (full story)