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The Fed: Fed’s Harker backs three interest-rate hikes this year

University of Delaware

Philadelphia Fed President Patrick Harker is a voting member of the Fed’s policy committee this year.

The U.S. economy is “starting 2017 off on a good foot” and three interest rate hikes will be appropriate as long as the economy stays on track, said Philadelphia Fed President Patrick Harker on Thursday.

“The labor market is strong, and we’re creating jobs at a good pace,” Harker said in a speech to the Main Line Chamber of Commerce in Malvern, Pa. “Inflation is moving back up to our 2% goal and growth is solid,” he added.

“I see three modest rate hikes as appropriate for the coming year, assuming the economy stays on track,” Harker said.

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