Philadelphia Fed President Patrick Harker said Wednesday that the central bank doesn't want to cause a recession with its upcoming policy moves.
The Federal Reserve wants to raise interest rates and unwind its balance sheet in a way that is not so aggressive that it pushes the U.S. economy into a recession, Philadelphia Fed President Patrick Harker said on Wednesday.
At... The Federal Reserve wants to raise interest rates and unwind its balance sheet in a way that is not so aggressive that it pushes the U.S. economy into a recession, Philadelphia Fed President Patrick Harker said on Wednesday. In separate remarks, Richmond Fed President Thomas Barkin said the central bank has “some time” to raise interest rates to what it considers “neutral.” He repeated his view that the Fed has to weigh the risk of moving too fast and causing an economic slowdown against its desire to help reduce inflation quickly.
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