Three hikes seem appropriate this year – FOCM’s Harker

Philadelphia Fed Patrick Harker (voter, hawkish) considered three rate hikes by the Fed during the current year as appropriate if the economy stays on track.

Furthermore, Harker now sees inflation figures to reach the Fed’s 2% goal during this year or the next one, while he noted the strength of the economy and said that the labour market is near ‘full health’.

Harker also argued that new legislation is needed to address the declining participation rate.