Title: U.S. Fed Open to Lowering Interest Rates

Philadelphia Federal Reserve President Patrick Harker announced today, Wednesday, that he still opposes any further increases in interest rates from the Federal Reserve and indicated an openness to lowering short-term borrowing costs, but not soon. Harker told a Philadelphia radio station, "I have been in the camp of keeping rates where they are for a while, and let's see what happens over time; we don’t need to raise interest rates anymore." However, he added that looking to the future "it’s important to start lowering interest rates," and continued, "we don’t have to do it very quickly, and we won’t do it immediately; it will take some time."