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Fed Officials Reinforce Message That Rates Are Heading Higher

  • Harker expects series of ‘deliberate, methodical’ Fed hikes
  • Barkin says Fed could raise rates by a half point if needed
The Marriner S. Eccles Federal Reserve building in Washington, D.C.

The Marriner S. Eccles Federal Reserve building in Washington, D.C.

Photographer: Stefani Reynolds/Bloomberg

Federal Reserve policy makers on Wednesday said officials would continue to tighten monetary policy, ahead of a key disclosure expected to shed light on how quickly they plan to trim the central bank’s bloated balance sheet.

“I expect a series of deliberate, methodical hikes as the year continues and the data evolve,” Philadelphia Fed President Patrick Harker told the Delaware State Chamber of Commerce on Wednesday. “I also anticipate that we will begin to reduce our holdings of Treasury securities, agency debt, and mortgage-backed securities soon.”