May 24, 2018 / 6:02 PM / a month ago

Fed could end tightening cycle in 2019: Harker on CNBC

WASHINGTON (Reuters) - The U.S. Federal Reserve could no longer need to raise interest rates any further sometime in 2019, Philadelphia Fed President Patrick Harker said on Thursday.

A police officer keeps watch in front of the U.S. Federal Reserve building in Washington, DC, U.S. on October 12, 2016. REUTERS/Kevin Lamarque/File Photo

Asked if that year could be the end of the central bank’s tightening cycle during an interview with broadcaster CNBC, Harker replied: Could be, yeah, it’s possible.”

The Fed has raised rates six times since it began a tightening cycle back in late 2015. Harker added that he sees the neutral rate as between 2.75 and 3 percent.

Reporting by Lindsay Dunsmuir; Editing by Chizu Nomiyama

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