Fed’s Harker Says He Is Ready to Downshift to 25-Basis-Point Rate Hikes

Philadelphia Federal Reserve President Patrick Harker reiterated on Wednesday that he is ready for the U.S. central bank to move to a slower pace of interest rate rises amid some signs that hot inflation is cooling. “High inflation is a scourge, leading to economic inefficiencies and hurting Americans of limited means disproportionately,” Harker said in a speech that closely followed…