Harker, Patrick on 2018 January 5 at 10:15
My own view is that two rate increases are likely to be appropriate for 2018.
Inflation continues to run below target, not just in the U.S. but in countries across the globe. Domestically, I expect inflation will run a bit above target in 2019 and come down to target the following year, but I am more hesitant in this view than I am on economic activity. If soft inflation persists, it may pose a significant problem, which I’ll get to shortly. For that reason, my own view is that two rate increases are likely to be appropriate for 2018. Of course, I’ll continue to monitor the data as they roll in, but that’s the view as we start out the new year. Harker, Patrick