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NEW YORK (Reuters) -Philadelphia Federal Reserve President Patrick Harker said on Friday he believes the U.S. central bank is likely done with its cycle of interest rate hikes amid an ongoing waning in price pressures. "Absent a stark turn in what I see in the data and hear from contacts ... I believe that we are at the point where we can hold rates where they are," Harker said in a virtual speech to the Delaware State Chamber of Commerce. "It will take some time for the full impact of the higher rates to be felt," he said, adding that "holding rates steady will let ...

Price increases remained elevated in September as year-high gas prices and shelter costs kept inflation high and heaped more pressure on consumers, according to new data released Thursday by the Bureau of Labor Statistics.

The US economy is still at risk of inflation expectations spiraling out of control, Deutsche Bank warned.

"I would say now the risks of how we balance those things are roughly balanced -- over-tightening versus under-tightening -- but we still have high inflation and the labor market's still strong," she said. Daly repeated her view that the recent run-up in long-term bond yields could substitute for a further Fed rate hike because the higher yields make it more expensive to borrow and can slow spending and investment. "Right now, geopolitical uncertainty is adding to already some domestic uncertainty" that is making businesses cautious, Daly said, adding that the Fed wi...

Policymakers at the Federal Reserve are feeling optimistic that a rise in long-term Treasury yields could finally put an end to the past 19 months of historic interest rate hikes meant to tamp down inflation.