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Fed's Harker sees 'sound' economy, forecasts future rate hike

April 17 - The U.S. economy could still deliver "sound" growth and warrant a single rate hike this year "at most," a Federal Reserve policymaker said on Wednesday.

Federal Reserve Bank of Philadelphia President Patrick Harker said a strong labor market, muted inflation and ongoing growth "point to a fundamentally sound U.S. economy." But he noted there is enough uncertainty that policymakers should be "patient as the data roll in."

"I continue to be in wait-and-see mode, and my outlook for rates remains, at most, one hike for 2019 and one for 2020," Harker said in a speech prepared for delivery at the Greater Vineland Chamber of Commerce in New Jersey.

Harker does not vote on the rate-setting Federal Open Market Committee this year but participates in its deliberations. (Reporting by Trevor Hunnicutt in New York; Editing by Dan Grebler)