Speaking in NY. Support 2 more hikes in 2018, but possibly could support an additional hike
Feds Patrick Harker is speaking in NY. He says:
- US economy is progressing just fine. Unemployment is likely to keep falling
- Sees two more hikes in 2018; possibly could support an additional hike
- monetary policy is ill-equipped to fine tuning
- usually don't know it's an asset bubble until it passed
- it was helpful to underline commercial real estate risk
- Prudent to continue raising US rates from near zero "judiciously" and when we can
- There is not much slack in the labor market
- Could back 3 more 2018 hikes if inflation accelerates
Fed's Harker is the President of the Philadelphia Fed. He is not a voting member in 2018.
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