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“In the absence of alarming new data between now and mid-September, I believe that we may be at the point where we can be patient and keep rates stable and let the monetary policy actions we have taken do their job.” She said it Patrick Harkerpresident of the Federal Reserve Bank of Philadelphia, during an event in the city.
“Let me be clear on one thing though – he added – If we were to be at that point where we can stand firm, we’ll have to stay there for a while“.
In the meeting two weeks agothe Fed increased rates by 25 basis points, to a range between 5.25% and 5.5%, opting for the eleventh hike in twelve meetings.