Fed should wait for stronger inflation before raising rates again: Harker

The Federal Reserve should wait for more evidence that U.S. inflation is progressing back toward 2 percent before raising interest rates again, Philadelphia Fed President Patrick Harker said on Tuesday. "Although I cannot give you a definitive path for how policy will evolve, it might prove prudent to wait until the inflation data are stronger before we undertake a second rate hike," Harker said in prepared remarks to a local business group in Philadelphia. In a speech similar to one he gave last month, Harker also said that if the fundamentals of the U.S. economy remain sound and a further firming of inflation is ... READ MORE