USDCHF: Fed officials called for a halt to interest rate increas

"Small companies are really having difficulty accessing capital," Mr. Harker said on Monday (October 16).

"Some people working in the banking industry share concerns that it will be difficult for them to implement their business plans if interest rates are higher," Mr. Harker said.

“This is why the Fed should keep interest rates steady, at this time we should not be thinking about any rate hikes.”

Mr. Harker in recent months has become one of the most strongly dovish leaders, arguing that policymakers have raised interest rates high enough to contain inflation.

The central bank has raised interest rates by more than 5% since the beginning of last year. In September, officials signaled another rate hike by the end of 2023.