Fed may double interest rates for first time in 2018

Baku. 6 January. REPORT.AZ/ US Federal Reserve System (Fed) may double the interest rates for the first time this year.

Report informs referring to Bloomberg, Federal Reserve Bank of Philadelphia president Patrick Harker said.

“If soft inflation persists, it may pose a significant problem. For that reason, my own view is that two rate increases are likely to be appropriate for 2018,” he said.

Harker added that the current inflation of 1.8% will run a bit above 2% and come down to target the following year: "Not only increasing inflation to 2%, exceeding this indicator a bit for some period will be useful”.