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10:18 17 July
10:15 17 July
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Fed to raise rates in December


Philadelphia Federal Reserve Bank President Patrick Harker said the interest rates would be hiked in December.  

 

According to Bloomberg, earlier Janet Yellen gave a hint about rate hike of 1 percent.

 

Parker also said he expects three more rate hikes next year, in line with most of his colleagues at the central bank.

 

Nevertheless, he said he expects inflation to resume rising back to the Fed’s 2-percent goal. 

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