Why One Fed Official Is Ready to Stop Raising Rates

Wall Street Journal, Oct. 18, 2023–Nick Timiraos
The Federal Reserve should extend its pause on interest-rate increases because of growing evidence that higher borrowing costs will slow the economy despite recent signs of hiring and spending strength, a top central bank official said.

Philadelphia Fed President Patrick Harker in a Tuesday interview said he thinks the central bank can likely wait until early next year to decide whether rapid rate increases over the past 20 months have done enough to keep inflation heading lower. (MBA mention)
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