Fed's Harker says is not factoring fiscal policies into forecast

Charles Mostoller | Bloomberg | Getty Images

Patrick Harker, president and chief executive officer of the Federal Reserve Bank of Philadelphia.

Philadelphia Federal Reserve Bank President Patrick Harker on Wednesday said his view that the
economy is ready for three rate hikes this year does not depend on any fiscal policy changes under President Donald Trump.

"Until there's more specificity on policies I really can't factor those into my forecasts," Harker said. A tax cut might stimulate the economy, but changes to trade policies could hurt, and the net effect will depend on the relative size of those changes, he said.


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