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Patrick Harker at Jackson Hole, Wyoming David A. Grogan | CNBC Philadelphia Federal Reserve President Patrick Harker on Thursday said higher interest rates have done little to keep inflation in check, so more increases will be needed. "We are going to keep raising rates for a while," the central bank official said in remarks for a speech in New Jersey. "Given our frankly disappointing lack of progress on curtailing inflation , I expect we will be well above 4% by the end of the year." The latter comment was in reference to the fed funds rate, which currently is targeted in a range between 3%-3.75%. Markets widely expect the Fed to approve a fourth consecutive 0.75 percentage point interest rate hike in early November, followed by another in December. The expectation is that the Federal Open Market Committee, of which Harker is a nonvoting member this year, will then take rates a bit higher in 2023 before settling in a range around 4.5%-4.75%. Harker indicated that...

In this article PLTR Follow your favorite stocks CREATE FREE ACCOUNT Alex Karp, CEO of Palantir arrives ahead of a "Tech For Good" meetup at Hotel Marigny in Paris on May 15, 2019, held to discuss good conduct for technology giants. Bertrand Guay | AFP | Getty Images Palantir CEO and co-founder Alex Karp believes this period of "deadly" macroeconomic uncertainties will crush many companies with shaky fundamentals. "Bad times are incredibly good for Palantir ... bad times really uncover the durable companies , and tech is going through bad times.... I \interest rates are the reason," said Karp on CNBC's "Squawk Box" Thursday. "Will this deadly tidal wave wipe out some companies? Yes it will." The Federal Reserve on Wednesday raised benchmark interest rates by another three-quarters of a percentage point to a range of 3%-3.25%, the highest since early 2008. The Bank of England, Swiss National Bank and the central banks of Norway, th...