Patrick Harker

Tuesday marked a risk-off session, dominated by concerns surrounding U.S. banks, which were hit by a wave of downgrades from Moody’s. The credit ratings of 10 small and medium-sized institutions were lowered by a notch, and the rating agency issued a warning of potential downgrades for an...

Philadelphia Federal Reserve Bank President Patrick Harker on Tuesday hinted at a potential pause in the Fed’s interest rate hiking cycle, an indication the Fed may be done with its most rate hike campaign. What Happened: Speaking at a Philadelphia Business Journal event, Harker said, "Absent...

At the start of the week, the U.S. stock market is attempting to break the negative streak of four consecutive sessions in the red, with all major indices for large-cap stocks showing gains at midday trading in New York. The outperformance of value stocks compared to growth stocks continues, as the...

Two Federal Reserve officials, on Thursday, reiterated the need for more interest rate hikes to rein in inflation just as the central bank is set to enter a silent period from April 22 to May 4 ahead of its next monetary policy announcement. What Happened: Federal Reserve Bank of Philadelphia...

Despite signs of inflation having peaked and economic activity witnessing a slowdown, Federal Reserve officials have reportedly stated they will continue with more rate hikes, with many in favor of taking the top policy rate to 5%. "I just think we need to keep going, and we'll...

Federal Reserve officials on Thursday reportedly sounded relief that inflation continued on its downward path in December, which could likely lead to a step down to a 25 bps interest rate hike at the FOMC meet in early February. The consumer price index rose 6.5% in December, down from 7....

The U.S. Federal Reserve would prefer to be predictable. However, when global markets are unpredictable, the Fed is left with no choice but to be unpredictable. When the Fed raised interest rates back in December, it’s likely that the members had planned a very predictable and steady rate...

The most recent FOMC minutes painted an unexpectedly hawkish picture, implying that the next Fed rate hike could come as soon as June. Following the release, Richmond Fed Chair Jeffrey Lacker told Bloomberg that he sees a strong case for a June hike and plans on pushing for a total of four hikes by...