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Fed's Harker: U.S. can run inflation above 2% target for a while

Fed’s Harker crossed the wires in the last hour of trade on Friday with the following comments:

  • We can run inflation above 2% target for a while.
  • What is limiting economic growth is not monetary policy and he is not yet sold on changes to inflation targeting framework.
  • Sees at most 1 rate hike this year; ‘i’m not in any rush’ || says if inflation expectations become unanchored they could drift down dangerously.