Fed's Harker: FOMC could hike rates 3 times this year

Patrick T. Harker, President of the Federal Reserve Bank of Philadelphia spoke further in an event in the US and said that the central bank could raise rates three times during the current year. Earlier he mentioned that the Fed may need to hike faster if inflation rises.

Key Quotes:

Every FOMC meeting should be a live meeting

Continued rise in energy prices could push inflation toward 2%

More aggressive policy would be needed if energy prices spike

The pace of monetary policy tightening depends on economic data