Skip to content

Patrick Harker, President and CEO of the Federal Reserve Bank of Philadelphia

  • says it will soon be time to start cutting the Fed’s monthly asset purchases
  • expects GDP growth to be around 5.5% by 2021 and 3.5% in 2022
  • You wouldn’t expect any interest rate hikes until late 2022 or early 2023, unless the inflation outlook changes dramatically.
  • expects inflation to be 4% by 2021 before dropping to “just over” 2% next year

Fed officials are chanting in unison about the upcoming reduction. November seems to be the pencil data of the beginning of the process.


Not all news on the site expresses the point of view of the site, but we transmit this news automatically and translate it through programmatic technology on the site and not from a human editor.