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Fed's Harker says he still expects to raise rates in December
September 29, 2017 / 3:31 PM / 2 months ago

Fed's Harker says he still expects to raise rates in December

Sept 29 (Reuters) - Philadelphia Federal Reserve Bank President Patrick Harker said Friday he still has “penciled in” an interest rate hike in December, and three more rate hikes next year, despite weak inflation.

“Labor markets feel really tight,” Harker said at a conference in Philadelphia on Fintech, adding that it was appropriate for the Fed to take a pause for now in raising rates as it begins to shrink its $4.5 trillion balance sheet. Low inflation is a concern, especially since the Fed may be under-estimating productivity, which means it may also be over-estimating inflation. (Reporting by Ann Saphir; Editing by Chizu Nomiyama)

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