NewsMacro & flows
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
IMPA 4 of 10, its impact on the market: how it is scored.
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