Philadelphia Fed Bank President Patrick Harker said, “I am in the camp that believes it will soon be time to begin slowly and methodically — frankly, boringly — tapering our $120 billion in monthly purchases of Treasury bills and mortgage-backed securities.”
Harker expected the economy to grow by 6.5% this year, and moderate to 3.5% next. He also expects inflation to be around 4% this year, and then slow back to 2% in 2022. “We’re already seeing some moderation there, as prices of used cars finally stabilize,” he added.
