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Fed’s Harker open to more than three rate hikes in 2022 if inflation worsens


© Reuters. FILE PHOTO – The Federal Reserve Board Building on Constitution Avenue in Washington, U.S.A, 19 March 2019 REUTERS/Leah Millis/File photo

(Reuters) – President Patrick Harker of the Philadelphia Federal Reserve Bank said he currently supports three interest rate rises this year. He would support them starting in March. If inflation gets worse, he is open to additional increases.

Harker stated that the central bank did not have the tools necessary to counter the supply chain issues fuelling inflation in an interview with Financial Times. However, it could slow down some demand.

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