Harker in an interview with the Wall Street Journal, on the sidelines of a regional conference in Scranton, PA

  • thinks one more increase in interest rates is appropriate this year
  • cautioned his forecast could change if inflation doesn't pick up
  • "There's no sense that inflation is running out of control right now so we can see how this plays out over the next couple of months or quarters."
  • said he has also pencilled in three rate increases in 2018

Journal may be gated: Philadelphia Fed President Projects One More Rate Increase This Year

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Patrick Harker is president of the Federal Reserve Bank of Philadelphia

He spoke earlier (during the US session): Fed's Harker sees 'very little slack' left in jobs market