2/6/2017, 11:52 PM (Source: TeleTrader)
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Harker: March interest rate hike is on the table

Philadelphia Federal Reserve Bank President Patrick Harker on Monday said that an interest rate hike at the Federal Open Market Committee’s meeting in March should be “on the table,” and that such a decision depends on the state of the economy and fiscal policy at the time.

"I still am supportive of three rate hikes this year, of course with a major caveat depending on how the economy evolves and policy, especially fiscal policy evolves," Harker told reporters, while adding that he doesn’t want “to get behind the curve on rate hikes.” He expressed that he doesn’t think that the Fed is behind at the moment.

Citing hackers stealing money by exploiting third-party vendors that provide cyber-security to many small lenders, Harker said he is increasingly concerned about cyber threats to small banks. He pointed out that increased regulatory demands of fintech firms yielded results, and that the practice should be continued.

Baha Breaking the News (BBN) / RV