Fed’s Harker – may need faster rate hikes if inflation rises

Philadelphia Fed President Patrick Harker, while speaking at an event in the US, said the bank may have to move rates faster if inflation rises aggressively.

Key quotes

'Policy can truly normalize' as we move into H2

Prudent to wait for stronger inflation before second hike

Expects faster wage growth now

Fed to reach employment target early this year

May want to err on side of policy accommodation