Fed’s Harker also saying he expects 50bp Federal Reserve rate hikes in June and July

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Patrick Harker, president and CEO of the Federal Reserve Bank of Philadelphia

  • I expect 50 bps rate
    hikes in June and July
  • after that I anticipate a sequence of ‘measured’ rate hikes until we
    are confident inflation is moving toward 2%
  • sees 3% US. GDP
    growth this year, job market tight through 2022
  • inflation is a
    scourge, and an urgent problem
  • elevated energy
    prices could be with us for a while

more to come

50bps at the next two meetings is being repeated by many Fed officials.

fomc 2022 meeting June to December