Fed’s Harker pulls back slightly his support for a December rate hike

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Philadelphia Fed President Patrick Harker on Sunday seemed to waver a bit in his support for another interest-rate hike in December. In a speech in Tokyo, Harker said that he has “lightly penciled in” a December move, backing away a bit from the phrase “penciled in” that he had used in in an interview with CNBC last month. In his remarks in Tokyo, Harker called continued low inflation, in the face of the steep decline in the unemployment rate, a “conundrum” for the central bank.

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