Philadelphia Fed President Patrick Harker on Sunday seemed to waiver a bit in his support for another interest rate hike in December. In a speech in Tokyo, Harker said that he has “lightly penciled in” a December move, backing away a bit from the phrase “penciled in” that he had used in in an interview with CNBC last month. In his remarks in Tokyo, Harker called continued low inflation, in the face of the steep decline in the unemployment rate, a “conundrum” for the central bank.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
From:: Stock Market News