February 8, 2018 / 2:43 PM / in 4 months

Fed's Harker open to U.S. rate increase in March

NEW YORK (Reuters) - Philadelphia Federal Reserve President Patrick Harker said on Thursday he is open to the U.S. central bank raising key borrowing costs at its March policy meeting, in the wake of market turmoil stemming from worries about rising inflation and interest rates.

“I’m open to a March rate increase,” he told reporters after a speech delivered at a meeting of the National Association of College and University Business Officers. He added he has “lightly pencilled” in two rate hikes for 2018 and could see a third one depending whether inflation rises further and financial conditions remain loose.

Reporting by Richard LeongEditing by Chizu Nomiyama

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