2/15/2017, 7:34 PM (Source: TeleTrader)
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Fed's Harker sees inflation at target by next year

The central bank of the United States should deliver three quarter-point interest rate increases through the meeting in December if "things stay on track," according to Patrick Harker. Speaking on Wednesday, the head of the Federal Reserve's subsidiary in Philadelphia pointed to inflation as "a little more stubborn" but added the economy is "in pretty good shape." Price stability should be reached this year or next, but it is fiscal and other policy areas that need to address the issue of growth, he stressed. 

Harker did state the economy is "more or less back to full health" with expansion set to reach just over 2% in 2017, but he underscored progress is uneven for different sections of the society. "Alternative routes to education and professional readiness" are some of the tools for investment in human capital to fight against inequality, the policymaker said, claiming there are job openings waiting for people with the right training. The chief of Philadelphia Fed is a voting member of the Federal Open Market Committee this year.

Baha Breaking the News (BBN) / IT