Friday preview: Fed officials appear on panel in wake of interest rate decision

Federal Reserve presidents Patrick Harker, Loretta Mester and Dennis Lockhart will appear on a panel on Friday, two days after the US central bank’s latest policy announcement.

The Fed officials will be on the 'Presidents’ Perspectives' panel at the Federal Reserve Bank of Philadelphia conference at 1700 BST.

Analysts will be looking for any hints on the timing on the next interest rate hike.

The Federal Open Market Committee on Wednesday decided to keep interest rates unchanged but members were divided on the vote.

Mester of Clevand, who is on Friday’s panel, was among those who wanted the Fed to raise its key rate at this month’s meeting. Esther George of Kansas and Eric Rosengren of Boston also argued for a rate increase.

While the FOMC said the case for a rate increase later this year has strengthened, they cut the number of rate increases they expect this year from one to two.

“Against a backdrop of firming activity and a steady rise in inflation we should be on track for a December rate rise of 25 basis points,” said Schroders.

Friday 23 September

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