The U.S. economy is growing at a good pace, and the labor market feels “really tight” with job levels running below the natural rate of employment, said Patrick Harker, president of the Federal Reserve Bank of Philadelphia, at the recent “ Fintech: The Impact on Consumers, Banking and Regulatory Policy ” conference. During an interview at the event, Harker told Knowledge at Wharton editor-in-chief Mukul Pandya that he sees the central bank raising the fed funds rate target in December and then three more times in 2018, “assuming that inflation comes back.” He also noted that the already low inflation rate still could be overstated, which would mean that productivity growth has been underestimated. As the Fed starts unwinding assets on its $4.5 trillion balance sheet in October, Harker expects the impact to be a 25-basis point increase in the fed funds rate over a four- to five-year span.…