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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Vice President Kamala Harris came to Philadelphia to announce pay increases for construction workers
President Joe Biden visited the same trades training institute in March — a sign of the administration's focus on union workers. Harris also toured the I-95 bridge collapse construction site Tuesday.
Vice President Harris to Visit Philadelphia Today
Vice President Kamala Harris is expected to travel to Philadelphia this evening. During her visit, Vice President Harris will highlight the Biden-Harris administration’s investments in infrastructure, and announce a major initiative for workers. Under this new initative, the rule, which advances President Biden’s Executive Order 14008, will allot thousands of extra dollars per year in construction workers’ pockets. Stay with PHL17 on this dev…
Harker Says Fed May Be at Point Where It Can Hold Rates Steady - BNN Bloomberg
Federal Reserve Bank of Philadelphia President Patrick Harker said the US central bank may be able to cease interest-rate increases, barring any surprises in the economy, though rates would need to stay at their current elevated levels for some time.
Fed's Harker Says Central Bank May Now Be At Point Where It Can Hold Steady
Federal Reserve Bank of Philadelphia President Patrick Harker said the US central bank may be able to cease interest-rate increases, barring any surprises in the economy, though rates would need to stay at their current elevated levels for some time.
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