Pat Harker President of Philadelphia Federal Reserve Bank

Fed’s Harker doesn’t expect recession, more rate increases

Betsy PriceBusiness, Headlines

Another rise in interest rates is not needed and the U.S. economy seems unlikely to tip into a recession, the president of the Philadelphia Federal Reserve Bank told the Delaware State Chamber of Commerce Friday. Patrick T. Harker, a former president of the University of Delaware, also said wages are falling slightly and that he expects the unemployment rate to …