January 20, 2017 / 4:15 PM / 3 years ago

Fed should mull end of balance sheet reinvestment: Fed's Harker

SOMERSET, N.J. (Reuters) - The U.S. Federal Reserve should considering ending the reinvestment of its bond holdings after the federal funds rate reaches 1 percent, Philadelphia Federal Reserve President Patrick Harker said on Friday.

“Once we get there, which I believe we may this year, we should think about stopping reinvestment,” Harker told reporters after a speech at an event sponsored by the New Jersey Bankers Association.

Reporting by Richard Leong; Editing by Chizu Nomiyama

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