Philadelphia Fed president Harker is speaking and says:
- interest rate hikes to be deliberate, methodical
- there are some signs of supply chain troubles are finally easing
- sees potential for significant uptick in service sectors of a large Democratic that had toughest pandemic rules
- sees GDP growth declined to 2% – 2.5%
- In 2022 sees inflation at 4%
Harker does not explicitly say whether he would increase by 25 basis points or 50 basis points at the next meeting