Fed’s Harker: Weakness in inflation seen as temporary

Speaking on the economic outlook and international trade in London, Philadelphia Fed President Patrick Harker argued that the recent weakness seen in the inflation was temporary.

Key quotes (via Reuters):

• 2.3% GDP growth seen in 2017, inflation to hit 2% target in early 2018
• One more rate hike in 2017 is appropriate
• Fed is on the right path, ‘very little slack’ in labour market