Patrick Harker, President of the Philadelphia branch

Reuters with the quick headlines:

  • Sees up to 2 rate hikes this year, slightly downgraded from his may prediction
  • Sees rates approaching 3 pct by end-2018
  • Brexit 'low on my list of risks'
  • June US jobs report largely arrests fears of labor market slowdown
  • US economy appears solid, Q1 weakness largely due to seasonal adjustments
  • Expects 2 pct inflation, 2.3 pct gdp growth in 2017

In May Harker had predicted 2 to 3 hikes this year, so the "up to 2" is a pullback from that earlier forecast.

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And .... Audience Q&A to follow, then media.