Fed’s Harker Says May Be Prudent to Wait on Election Before Hike
- Philadelphia Fed chief says delaying to December carries risks
- Harker votes on monetary policy in 2017, favors gradual path
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Federal Reserve Bank of Philadelphia President Patrick Harker said uncertainty stemming from the U.S. presidential election might be an argument for delaying a rate increase until after the November ballot.
“What I’m worried about is, depending on the outcome of the election and what happens after that, if there are policies that would have distortive effects that we would have to respond to,” he told reporters Thursday after giving a speech in Philadelphia. In that case, “it may be prudent -- and I emphasize may be prudent -- to wait until we resolve some of that uncertainty,” he said.