Fed's Harker: Reiterates that inflation is far too high, says he is concerned about inflation expectations

Philadelphia Fed President and FOMC member Patrick Harker reiterated on Wednesday that inflation is far too high in the US and said that he is worried that inflation expectation could become unmoored, reported the WSJ. The Fed will soon start cutting the size of its balance sheet, he noted, a nod in favour of recent comments from the likes of Fed Vice Chair Lael Brainard and NY Fed President John Williams that balance sheet reduction could begin in May.