# Ex-Philly Fed chief Harker: policy not restrictive, more hikes likely needed

Quick Take · News · Published October 28, 2026 · By [Anthony Asuaje](https://walkeranthony.com/about/), Walker Strategies
Canonical URL: https://walkeranthony.com/news/ex-philly-fed-chief-harker-policy-not-restrictive-more-hikes-likely-needed/

3.75-4.00% rate is not restrictive, says ex-Philly Fed chief Harker, urging the Fed to signal more hikes after today's hold.

Ex-Philadelphia Fed president Harker says policy at 3.75-4.00% is not restrictive and the Fed should signal more tightening; he disagreed with today's hold.
Market read: reinforces December-hike pricing, but he no longer votes, so impact is limited.
Watch: December 8-9 FOMC and the next CPI print.

**Why it matters:** Adds a hawkish voice right after the Fed held at 3.75-4.00%, supporting bets on a December hike. Higher-for-longer rates weigh on long yields and growth-stock valuations.

Source: [Bloomberg](https://www.bloomberg.com/news/videos/2026-10-28/former-fed-president-harker-policy-is-not-restrictive-video)

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