Bullard and Plosser make the hawkish case, again

Comments from Fed officials Bullard and Plosser:

Bullard:

• He favors dropping 'patient' at March meeting
• It is important for Fed to have flexibility
• Inflation not that low if you strip out inflation
• It's getting to be time to raise rates above zero

Plosser:

• Fed will have to do something about 'patient' rate guidance at March meeting
• Market reaction to January FOMC minutes seemed to ignore strong subsequent jobs report

They're both hawks so it's not surprising for them to argue for removing patient. The main event in the week ahead is Tuesday when Yellen speaks at her Humphrey Hawkins testimony. I look for a hint that patient will be removed but it will be followed up with something that indicates it doesn't necessarily mean rates will go up in June.