Philadelphia Fed President Harker comments on interest rates

Philadelphia Fed President Patrick Harker said the Fed should not consider further rate hikes. The central bank should not create new pressures on the economy by raising the cost of borrowing, Philadelphia Fed President Patrick Harker said on Monday. “We should not consider any increase in the Fed’s interest rate target at this point,” Harker told a bankers group after reiterating that he believes the Fed is done raising interest rates amid easing inflation pressures.