(Reuters) – Philadelphia Federal Reserve Bank President Patrick Harker said on Friday that he still supports tapering the central bank’s asset purchases sooner rather than later, calling the significant downside risks posted by the Delta variant of the coronavirus a “caveat.”
“I’m still supportive of moving the taper along,” Harker said during an interview with CNBC. “I don’t think it’s doing a whole lot right now.”
Harker said he prefers for the taper of the asset purchases to be complete before the Fed starts to lift interest rates, but stressed that the decision on rates will be based on how the economy is doing.
(Reporting by Jonnelle Marte; Editing by Giles Elgood)
