Fed’s Harker: My forecast shows inflation coming up to 2.1-2.2% this year

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Philadelphia Fed president, Patrick Harker, during a scheduled speech in Frankfurt this Tuesday, said that I was not supportive of the December rate hike.

Key quotes:

   •  My dot plots projection didn’t come down that much.
   •  But had ticked down growth rate forecast a little bit. 
   •  There was a general consensus to shorten the maturity of the balance sheet.
   •  So there would be room for a future twist if need.
   •  My forecast shows inflation coming up to 2.1-2.2% in 2019.

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