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4/17, 7:02 PM (Source: TeleTrader)
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Fed's Harker predicts 'at most' one more rate hike in 2019

The United States Federal Reserve Bank of Philadelphia President Patrick Harker repeated his earlier stance that the central bank will increase the interest rates "at most" once in this and the following year.

The official anticipates the unemployment continuing to edge down to approximately 3.5% in 2019, inflation averaging slightly higher than the Fed's goal of 2% in 2019 and 2020, while the gross domestic product being "a bit above" 2% in this year. On the other side, global developments, the growth slowdown abroad, and trade uncertainties present the main risks to the economy, he added.

"Accounting for all those factors - a strong labor market, muted inflation, sustained moderate growth, and the penumbra of uncertainty - I continue to be in wait-and-see mode, and my outlook for rates remains, at most, one hike for 2019 and one for 2020," Harker concluded.

Breaking the News / MD