Fed's Harker: Two rate hikes 'appropriate' this year

Delivering his prepared remarks at the annual American Economic Association, Philadelphia Federal Reserve Bank President Patrick Harker said that he believes the Fed should hike rates just two times this year, sa reported by Reuters.

Key quotes (via Reuters)

Worries over yield curve inversion 'inflated,' but keeping watchful eye.

U.S. GDP to grow in 2018 'a little under 2.5 pct'.

Very little slack left in labor market.

Expect small rise in unemployment rate after this year.

Monthly job gains may be around 100,000 by end of 2019.

Inflation to run a bit above 2 pct in 2019.

Inflation to fall back to 2-pct target in 2020.

If soft inflation persists, may make 2-pct target even harder to reach.

Could be time to reevaluate how Fed conducts policy, though not advocating a specific change.