Compared to the current target of between 4.5% and 4.75%,
the Fed should get above 5% "and then pause," Harker said on
Wharton Business Radio. He said it was unclear right now how far
above 5% the Fed will need to go, but he added the days of
super-sized rate hikes are likely over for now.
(Reporting by Michael S. Derby)
By Michael S. Derby
NEW YORK, Feb 10 (Reuters) - Federal Reserve Bank of
Philadelphia leader Patrick Harker said Friday he still believes
the U.S. central bank will need to push its interest rate target
over 5%, while adding he does not see a recession happening in
the U.S.
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