Fed’s Harker calls for ‘action on inflation,’ sees 3 or 4 rate hikes this year

Philadelphia Federal Reserve President Patrick Harker said Thursday he foresees three or four interest rate hikes will be appropriate this year as the central bank tackles a nagging inflation problem. His thinking, outlined in a live interview on CNBC’s “Closing Bell,” is consistent with estimates the policymaking Federal Open Market Committee released in December. But while officials then penciled in the likelihood of three quarter-percentage-point increases this year of the Fed’s benchmark overnight borrowing rate, Harker said he may be open to even more.
Source: CNBC – Bonds