Fed's harker says concerned about falling behind curve on inflation
- Top 10 News for 10/17 - 10/21: Merger Rumors Abound; CEOs Depart; Tesla Kicks Autopilot Up A Notch
- Wall Street ends little changed; Microsoft hits record
- AT&T (T) in Advanced Talks to Acquire Time Warner (TWX) - DJ
- Rockwell Automation (ROK) Said to Attract Takeover Interest from Schneider Electric - Source
- British American Tobacco Offers to Acquire Remaining Shares of Reynolds American (RAI) for $56.50/Share
The Federal Reserve Building stands in Washington April 3, 2012. REUTERS/Joshua Roberts
Find out which companies are about to raise their dividend well before the news hits the Street with StreetInsider.com's Dividend Insider Elite. Sign-up for a FREE trial here.
DUBLIN (Reuters) - The U.S. Federal Reserve is at risk of falling behind the curve on inflation if it does not normalize rates sooner rather than later, the head of the Philadelphia Fed Patrick Harker said on Thursday.
"I think core inflation... whatever measure you look at is moving towards the 2 percent target," Harker said in an interview with Bloomberg Television.
"I am convinced we will achieve that sooner rather than later so I am somewhat concerned about falling behind the curve," he said.
Harker said he expected a shallow path of rate normalization and said it was not clear yet if the Federal Reserve would lift rates at its December meeting. He said the November meeting should not be ignored.
(Reporting by Conor Humphries)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Fed Beige Book Says Job Market Tight; Outlooks Mostly Positive
- Fischer says Fed 'very close' to goals for U.S. jobs, inflation
- N.Y. Fed lowers U.S. third and fourth quarter GDP outlook
Create E-mail Alert Related CategoriesFed, Forex, Reuters
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!