U.S. Markets

Fed could end tightening cycle in 2019: Harker on CNBC

A police officer keeps watch in front of the U.S. Federal Reserve building in Washington, DC, U.S. on October 12, 2016. REUTERS/Kevin Lamarque/File Photo

WASHINGTON (Reuters) - The U.S. Federal Reserve could no longer need to raise interest rates any further sometime in 2019, Philadelphia Fed President Patrick Harker said on Thursday.

Asked if that year could be the end of the central bank’s tightening cycle during an interview with broadcaster CNBC, Harker replied: Could be, yeah, it’s possible.”

The Fed has raised rates six times since it began a tightening cycle back in late 2015. Harker added that he sees the neutral rate as between 2.75 and 3 percent.

Reporting by Lindsay Dunsmuir; Editing by Chizu Nomiyama