Fed's harker says concerned about falling behind curve on inflation
- Wall Street dips as telecoms slump; AmEx surges
- Microsoft (MSFT) Tops Q1 EPS by 8c
- AMD (AMD) Posts Q3 Operating EPS of 3c; Sees Q4 Revenue Down Sequentially
- AT&T (T) Said to Discuss Idea of Takeover in Time Warner (TWX) Meetings
- Alkermes plc (ALKS) Announces Third ALKS 5461 Phase 3 Met Primary Endpoint in MDD
The Federal Reserve Building stands in Washington April 3, 2012. REUTERS/Joshua Roberts
News and research before you hear about it on CNBC and others. Claim your 2-week free trial to StreetInsider Premium 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
- Boston Fed's Rosengren maps case for a dove's rate hike
- ECB to maintain status quo when it meets on Thursday: traders
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!