September 29, 2016 / 10:41 AM / a year ago

Fed's harker says concerned about falling behind curve on inflation

DUBLIN, Sept 29 (Reuters) - The U.S. Federal Reserve is at risk of falling behind the curve on inflation if it does not normalise rates sooner rather than later, the head of the Philadelphia Fed Patrick Harker said on Thursday.

"I think core inflation...whatever measure you look at is moving towards the 2 percent target," Harker said in an interview with Bloomberg Television.

"I am convinced we will achieve that sooner rather than later so I am somewhat concerned about falling behind the curve," he said.

Harker said he expected a shallow path of rate normalisation and said it was not clear yet if the Federal Reserve would lift rates at its December meeting. He said the November meeting should not be ignored. (Reporting by Conor Humphries)

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