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Federal Reserve Bank  of Philadelphia President Patrick Harker has recently crossed the wires saying that he was favouring one rate hike ‘at most’ this year and one in 2020.

Key quotes (via Reuters)

  • Balance sheet will not likely hold primarily treasuries ‘for some time’.
  • Expects GDP a bit above 2% in 2019, returning to trend around 2% in 2020.
  • Economic risks tilt very slightly to the downside, outlook is ‘pretty good’.