Fed's Harker asys could begin trimming balance sheet in September

(Reuters) - Philadelphia Federal Reserve Bank President Patrick Harker said the U.S. central bank could begin trimming its balance sheet in September and defer its next rate rise until December, the Financial Times reported on Wednesday.

“We need to get on with this,” Harker told the FT in an interview, referring to the Fed's plan to reduce its $4.5 trillion balance sheet. Harker told the British paper he advocated a pause in rate hikes while the Fed starts reducing its balance sheet.