Fed/Harker: Growth to slow in coming months – WORLD
In a speech at the Global Interdependence Center, Philadelphia Fed President Patrick Harker said he expects officials to slow rate hikes in the coming months as monetary policy approaches a fairly restrictive level.“I hope to keep rates capped for some time next year so that monetary policy can do its job,” Harker said in support of his Nov. 10 speech. Fed Vice Chair Lael Brainard said at an event at the Bloomberg Washington office on Monday: “It may be appropriate to move to a slower pace of rate hikes soon. We have done a lot, but we still have a lot more to do.” On November 2, the Fed raised interest rates by 75 basis points from 3.75% to 4% for the fourth time in a row.
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