PHILADELPHIA Federal Reserve Bank President Patrick Harker on Monday said he would be open to raising interest rates again at the U.S. central bank's March meeting if growth in jobs and wages continues.
"I still am supportive of three rate hikes this year, of course with a major caveat, depending on how the economy evolves and policy, fiscal policy, evolves," Harker told reporters after a speech on the regulation of fintech firms." I think March should be considered as a potential for another 25-basis point increase."
The Fed raised rates for only the second time since the financial crisis in December, and most Fed policymakers agree with Harker that three more rate hikes this year would be appropriate. Wall Street banks and interest-rate futures traders are betting the Fed will only lift borrowing costs twice this year, starting in June.
Harker, one of 10 voters this year on the Fed's rate-setting panel, said that to support a rate hike he would need to see further GDP growth and continued strengthening of the labor market, "not just in terms of the job numbers but also seeing continued wage growth and income growth because that will ultimately feed into inflation."
U.S. employers added more jobs last month than expected, but hourly wages increased by only three cents, suggesting there is still room for the job market to improve before there is much upward pressure on prices.
"I don’t think we are behind the curve now," Harker added. "I want to make sure we don’t get behind the curve."
TRUMPONOMICS
Harker tread carefully when it came to questions about how policies under President Donald Trump might affect the economy. He said he had not seen enough details of the new administration's tax or infrastructure plans to make any judgment about how they would impact growth.
And while he said that broadly immigration can boost economic growth, and that limits could drive some firms to locate jobs overseas instead of at home, he made no specific comments about the travel ban and immigration restrictions included in an executive order from Trump just over a week ago.
Asked about Trump's plans to roll back parts of the Wall Street reform act enacted after the financial crisis, Harker said that the legislation had contributed to financial stability, and urged thoughtfulness when considering changes.
He also raised the importance of protecting against cyber threats, saying that it was now the topmost concern of small banks surveyed by the Philadelphia Fed.
Reuters
Tue Feb 07 2017
HARKER: I still am supportive of three rate hikes this year, of course with a major caveat, depending on how the economy evolves and policy, fiscal policy, evolves. - Photo: Federal Reserve Bank of Philadelphia Official site
Jumlah korban serangan di dewan konsert Rusia meningkat kepada 143
Jumaat lepas, sekumpulan lelaki bersenjata melepaskan tembakan rambang di Dewan Bandaraya Crocus, Krasnogorsk dalam Wilayah Moscow.
Kerjasama dua hala India-Malaysia bergantung kepada kepercayaan, kebolehpercayaan bersama - Menteri Luar
Memupuk kepercayaan dan kebolehpercayaan bersama sebagai asas untuk kerjasama dua hala antara India dan Malaysia adalah sangat penting, kata Menteri Luar India, Dr S. Jaishankar.
AWANI 7:45 [28/03/2024] - 75 peratus pemegang akaun keldai | Sakit mata, sakit hati | Bayar agihan pendapatan | Elak serbuan saat akhir
#AWANI745 malam ini bersama Essan Yahya;
1. Scammer! Dalam tiga bulan, lebih empat ribu ditahan
2. Hati jadi sakit, lambakan kereta terbiar depan rumah... Gempur745 siasat
3. PNB agih pendapatan RM0.67 bilion
4. Tambahan 300 kaunter PADU seluruh negara
1. Scammer! Dalam tiga bulan, lebih empat ribu ditahan
2. Hati jadi sakit, lambakan kereta terbiar depan rumah... Gempur745 siasat
3. PNB agih pendapatan RM0.67 bilion
4. Tambahan 300 kaunter PADU seluruh negara
AWANI Ringkas: Rusuhan di bazar Ramadan
AWANI Ringkas
PM Anwar beri bayangan tiada 'cuti tambahan' sempena sambutan Aidilfitri
Perdana Menteri, Datuk Seri Anwar Ibrahim beri bayangan tiada cuti tambahan diberikan menjelang sambutan Hari Raya Aidilfitri yang dijadual pada 10 April depan.
UAE lancar kempen derma lebihan makanan sepanjang Ramadan
Emiriah Arab Bersatu (UAE) menerusi UAE Food Bank melancarkan kempen menderma lebihan makanan sepanjang ramadan kepada mereka yang memerlukan.
Pelapor Khas PBB terima ugutan
Pelapor Khas Pertubuhan Bangsa-Bangsa Bersatu (PBB), Francesca Alabanese mendedahkan menerima ugutan ketika cuba mengumpulkan bukti genosid dilakukan Israel di genting Gaza.
Pentadbiran Biden arah semua agensi persekutuan AS lantik ketua pegawai AI
Pentadbiran Presiden Joe Biden telah mengarahkan semua agensi persekutuan negara itu melantik seorang ketua pegawai Kecerdasan Buatan (AI) untuk menyelia semua teknologi berkaitan.
Gempur: Masalah lambakan kereta usang membelenggu penduduk
Lambakan kereta tersadai di kawasan flat Sri Pantai menyebabkan penduduk berdepan masalah kekurangan parkir. Ada yang sudah berbulan malah ada yang bertahun tersadai sehingga menyebabkan kesesakan di kawasan parkir. Walaupun beberapa kali pihak berkuasa menunda kenderaan, tetapi masalah ini terus berulang.
Ramai serbu Jalan TAR tapi belum cukup meriah
Saban tahun, Jalan Tunku Abdul Rahman (TAR) meriah tatkala menghampiri Hari Raya Aidilfitri namun tahun ini, selepas lebih dua minggu Ramadan, suasananya masih belum cukup meriah berbanding tahun-tahun sebelumnya.
Ringgit dijangka capai RM4.45 pada hujung 2024
Pada suku pertama tahun ini nilai ringgit diramal berlegar dalam RM4.70.
AS naikkan lagi kadar faedah, tertinggi selepas 22 tahun
The Fed menaikkan kadar faedah sebanyak suku mata peratusan, dalam julat 5.25-5.50 peratus, tertinggi selepas 22 tahun lalu.
COVID-19: The Fed potong kadar faedah, beli bon AS$700 bilion
Bank pusat itu melaporkan penularan COVID-19 akan beri kesan kepada aktiviti ekonomi dalam masa terdekat dan mengancam unjuran ekonomi AS.