Fed’s Harker calls for ‘action on inflation,’ sees 3 or 4 rate hikes likely this year
Philadelphia Federal Reserve President Patrick Harker said he foresees three or four interest rate hikes this year as likely to fight inflation.
Philadelphia Federal Reserve President Patrick Harker said he foresees three or four interest rate hikes this year as likely to fight inflation.
Federal Reserve Chairman Jerome Powell testifies Tuesday before the Senate Banking Committee as part of his confirmation process.
JPMorgan is the biggest U.S. bank by assets and has relationships with half of U.S. households.
Federal Reserve Vice Chairman Richard Clarida said Monday he will be leaving his post with just a few weeks left on his term.
High inflation and near-full employment will push the Fed to raise rates more quickly than expected, according to Goldman Sachs.
Nonfarm payrolls were expected to increase by 422,000 in December, according to economists surveyed by Dow Jones.
Rates have started this year sharply higher, and that may have potential buyers rushing in more quickly, afraid that rates will go even higher.
The consumer price index for December 2021 was expected to increase 7% from a year ago, according to economists surveyed by Dow Jones.
The leisure and hospitality sector led hiring in December as restaurants added wait staff, cooks and bartenders ahead of the holidays.