Philadelphia Fed's Harker sees no rate hike in short-term

Washington (March 25)  The circumstances are not in place to raise U.S. interest rates again in the short-term, Philadelphia Federal Reserve President Patrick Harker said on Monday.

Harker said that U.S. rates were still one to two hikes away from their 'neutral' level but that there was no rush to move again them again for the time being.

"I think we stand pat now and wait to see how the data comes," Harker said during a question and answer session at an OMFIF financial markets event in London.

He added that it was not a new trend that markets were pricing in different moves for U.S. rates than the Fed's 'Dot Plot' of policymaker rate expectations.

REuters