Fed's Harker says not expecting rate hikes until late 2022, or early 2023

Author: Eamonn Sheridan | Category: Central Banks

Patrick Harker, president and CEO of the Federal Reserve Bank of Philadelphia

  •  says it will soon be time to begin tapering Fed's monthly asset purchases
  • he expects GDP growth to come in around 5.5% for 2021 and 3.5% in 2022
  • he wouldn't expect any interest rate hikes until late 2022 or early 2023, unless inflation picture changes dramatically
  • he expects inflation to come in at 4% for 2021 before coming down to "a bit over" 2% next year

Fed officials are singing in unison on the tapering to come soon. November seems to be the pencilled in date for the beginning of the process. 

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