Federal Reserve Bank of Philadelphia
President Patrick Harker says central bank will design its
balance-sheet exit strategy to minimize market disruption.
* “We can slow the pace of that, or accelerate the path of that”
depending on how the market reacts
* Says the “next hike or so” is appropriate for starting to end
reinvestment. “Two, to me, would be preferable” before starting,
but says he could go along with beginning process after one more
hike
* “We’ll start a process, we’ll have caps, we’ll adjust the
caps” and “as long as the market understands that, I think we’ll
be fine”
* Speaks with reporters Friday after giving speech in
Philadelphia
Source: Bloomberg Pro Terminal
Senan Fuchedzhiev - Trader
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