Fed's Harker: Fed to keep raising rates for a while



<ul><li>Fed to keep raising rates for a while</li><li>needs to see sustained drop in inflation to change policy outlook</li><li>Fed actively trying to slow economy to curtail fresh inflation</li><li>Fed has made disappoint progress at lower inflation</li><li>Fed funds rate likely well above 4% by year-end</li><li>future Fed rate actions will be driven by how the data performs</li><li>expects Fed policy to stay restrictive for a while</li><li>sometimes next year Fed cannot stop hikes, take stock of policy impact</li><li>GDP likely flat this year and rise by 1.5% next year</li><li>inflation likely to fall around 4% next year at 2.5%</li><li>US unemployment to rise to 4.5% next year. Job market to remain healthy</li></ul><p>Comments are somewhat more hawkish compared to recent comments from Fed officials which have hedged against going too far.</p><ul><li>Dow industrial average up 176 points or 0.58%</li><li>S&P index up 0.31% at 3706.58</li><li>NASDAQ index up 87 points or 0.82% at 10767.30</li></ul>

This article was written by Greg Michalowski at forexlive.com.



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