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Fed’s Patrick Harker Expects Steady, Deliberate Path of Rate Rises
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Federal Reserve Bank of Philadelphia President Patrick Harker said a series of rate increases is needed to tame inflation.
“I expect a series of deliberate, methodical hikes as the year continues and the data evolve,” Mr. Harker said in a speech text that largely reiterated remarks given on March 29. “I also anticipate that we will begin to reduce our holdings of Treasury securities, agency debt and mortgage-backed securities soon.”
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