Fed's Harker: Rate increase probably won't happen until late 2022, early 2023

  • 8/27/2021
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Aug 27 (Reuters) - Philadelphia Federal Reserve Bank President Patrick Harker said on Friday that the central bank probably would not raise interest rates before late 2022 or early 2023. “I would like to see the tapering process end, or basically end, before we think about any kind of Fed funds rate increase,” Harker said during an interview with Yahoo Finance. “So given that, we’re talking about probably late ‘22 to early ‘23 before we think about any kind of rate increase.” He repeated his view that he would like the tapering process to start “sooner rather than later.” Reporting by Jonnelle Marte Our Standards: The Thomson Reuters Trust Principles.

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