Interesting Times

Abstract: Philadelphia Fed President Patrick T. Harker noted the “underlying strength of the U.S. economy” during his first in-person speech since the pandemic began. Speaking at the Center for Financial Stability, Harker said that job growth is robust and that the housing market is “largely healthy.” However, he voiced concerns about inflation. He said that is why the Fed raised the federal funds rate for the first time since 2018 and that he expects “a series of deliberate, methodical hikes” this year.

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Bibliographic Information

Provider: Federal Reserve Bank of Philadelphia

Part of Series: Speech

Publication Date: 2022-03-29