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Fed’s Patrick Harker Supports Half-Point Rate Rises in June and July
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Federal Reserve Bank of Philadelphia leader Patrick Harker said he supports the central bank doing more big rate increases at its coming meetings as it seeks to lower inflation.
“If there are no significant changes in the data in the coming weeks, I expect two additional 50-basis-point rate hikes in June and July,” Mr. Harker said Wednesday in a speech text. “After that, I anticipate a sequence of increases in the funds rate at a measured pace until we are confident that inflation is moving toward the [Federal Open Market] Committee’s inflation target.”
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