Fed’s Harker Urges Caution with Rate Increases


Summary: Philadelphia Federal Reserve President Patrick Harker emphasizes the importance of not raising interest rates further to avoid putting unnecessary pressure on the economy.

Philadelphia Federal Reserve President Patrick Harker expressed his concerns about the potential negative impact of increasing the cost of borrowing on the economy. Speaking at a bankers’ group, Harker reiterated his belief that the Federal Reserve should not consider any further rate increases. He emphasized the need for caution, particularly as inflation pressures are weakening. Harker’s remarks highlight the importance of maintaining a stable and supportive environment for economic growth.

Tags: Patrick Harker, Federal Reserve, interest rates, economy, borrowing, inflation pressures