Philadelphia Head of the Federal Reserve Bank expects one rate increase in 2019


The US Federal Reserve may raise the rate once in 2019 and once in 2020, Patrick Harker, head of the Federal Reserve Bank of Philadelphia, says. However, the Fed leadership in general does not expect a rate hike this year. According to Harker, the recent decline in inflation was temporary. In the medium term, he expects the inflation rate to be slightly higher than 2%. That is, he predicts a return of inflation to the target level of the Central Bank. Chairman of the Federal Reserve Bank of Philadelphia drew attention to the fact that the growth of the American economy in the first quarter, according to preliminary data, amounted to 3.2% in annual terms, significantly exceeding the forecast of 2.3%. Harker expects that by the end of 2019, US GDP will grow by slightly more than 2%.

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