Harker Sees Three Rate Hikes in 2017

Three rate hike this year is the likely course of events, Federal Reserve Bank of Philadelphia President Patrick Harker said Wednesday.

"I see three hikes as appropriate for 2017, assuming things stay on track," Harker said at La Salle University, according to prepared text released by the Fed.

"From an economic modeling standpoint, growth right now is more or less what we should consider normal," he said. "My forecast for 2017 is a touch above 2 percent."

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