Fed's Harker: We need to move methodically toward a clear restrictive stance

It's interesting that he's talking about a 'methodic' move and that's in contrast to Bullard who wants to front load.

• If there is a recession it would be shallow in my view
• We will do what it takes to get inflation under control
• Restrictive is clearly above 3%, how much more than that we'll have to see
• I'm not in the camp that unemployment needs to rise to 5% to get 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 under control

We heard from Harker yesterday as well. I don't see anything to move the market here but 75 bps odds for Sept continue to tick down and it's right at 50/50 now.