Federal Reserve Bank of Philadelphia President Patrick Harker said the US central bank is close to the point where it can stop raising interest rates and turn to holding them steady in an effort to further bring down inflation.
“I do believe that we are close to the point where we can hold rates in place and let monetary policy do its work to bring inflation back to the target in a timely manner,” Harker said Thursday during a virtual event with the National Association for Business Economics.
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