Fed's Harker also saying he expects 50bp Federal Reserve rate hikes in June and July

Patrick Harker, president and CEO of the Federal Reserve Federal Reserve The Federal Reserve System, more commonly known as the Fed, represents the central banking system of the United States. Like other central banks globally, the Fed is responsible for monetary policy, in this case in the US.The Fed is one of the most watched and followed entities for forex traders, given its material impact on the US dollar. Founded initially in 1913, the Fed was created to perform a wide range of functions. This includes stabilizing and maintaining flexible monetary policy in the The Federal Reserve System, more commonly known as the Fed, represents the central banking system of the United States. Like other central banks globally, the Fed is responsible for monetary policy, in this case in the US.The Fed is one of the most watched and followed entities for forex traders, given its material impact on the US dollar. Founded initially in 1913, the Fed was created to perform a wide range of functions. This includes stabilizing and maintaining flexible monetary policy in the Read this Term Bank of Philadelphia

• I expect 50 bps rate hikes in June and July
• after that I anticipate a sequence of 'measured' rate hikes until we are confident inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term is moving toward 2%
• sees 3% US. GDP growth this year, job market tight through 2022
• inflation is a scourge, and an urgent problem
• elevated energy prices could be with us for a while

50bps at the next two meetings is being repeated by many Fed officials. Harker the same, and 'measured' moves after that. 'Measured' is being read as 25bp hikes. Chicago Fed head Evans said similar yestreday:

• More Fed's Evans: Expects transition to talking about 25bp hikes by July or September
• More from Fed's Evans - short-term neutral rate may be higher than long-run rate
• Fed's Evans calls to raise interest rates to 2.25% - 2.5% quickly

Curiously though, Fed Chair Powell wasn't quite so 'measured' in his remarks Tuesday:

• Powell: “We need to see inflation coming down ... Until we do, we’ll keep going.”
• “This is not a time for tremendously nuanced readings of inflation. We need to see inflation coming down in a convincing way. Until we do, we’ll keep going.”

FOMC meetings ahead: