Fed’s Harker Reiterates Call for Holding Interest Rates Steady
- By doing nothing on rates, ‘we are doing quite a lot,’ he says
- Fed won’t bear faster inflation, but doesn’t want overreaction
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Federal Reserve Bank of Philadelphia President Patrick Harker said disinflation is under way and reiterated that he favors holding interest rates where they are, barring a sharp change in data.
“I believe that we are at the point where we can hold rates where they are,” Harker said in a virtual event with the Delaware State Chamber of Commerce. “By doing nothing, we are still doing something. And, actually, we are doing quite a lot.”