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Philadelphia Fed President Patrick Harker suggests interest rate hikes are at an end

  • Philadelphia Federal Reserve President Patrick Harker suggests that the central bank may be at the end of its current rate-hiking cycle, citing progress in the fight against inflation and confidence in the economy.
  • Other Fed officials, such as New York Fed President John Williams, also indicate that the rate increases could be over, while Governor Michelle Bowman believes additional hikes may be necessary.
  • Markets are pricing in a high probability that the Fed will hold steady at its September meeting, with potential rate cuts expected in March 2024.
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  • 55% of the sources are Center
55% Center
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AOL broke the news in United States on Tuesday, August 8, 2023.
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