Central Banks
Fed Should Stop Rate Increases With US Small Businesses Struggling, Harker Says
- Philadelphia Fed chief repeats his call to stop raising rates
- Bankers concerned firms ‘aren’t going to make it,’ Harker says
Patrick Harker.
Photographer: David Paul Morris/BloombergThis article is for subscribers only.
The Federal Reserve shouldn’t be thinking about additional interest-rate increases with so many US small businesses struggling to cope with its tightening to date, Philadelphia Fed President Patrick Harker said.
“Small firms are really struggling with access to capital,” Harker said Monday while answering questions after a speech at a virtual event.