A heads up for the Atlanta Fed pres Dennis Lockhart talking shop at the National Association of Business Economics

He's not a voter so his comments should not affect prices too much. That said, we're in FOMC mode so any comments related to the economy and rates will still be stewed over.

His last outing back in August summed up his views about the possibility of 2 hikes and the economy.

"The best way to explain my position on September is to explain what my position is on the economy. And that is that the second-quarter GDP number can cause overreaction. The low number suggests an economy that has slowed down pretty markedly in the last three to four quarters from what was already considered a very slow pace of growth.

But if you look through the headline GDP number to real final sales - which is GDP less inventory - what you see is that the economy is actually performing better than the headline number pretty consistently over the last few quarters. Much of the disappointment has been the result of inventory swings.

You have to explain why we've had a drag from inventories, and that's an important question. But I think the economy is chugging along at a moderate pace. If the incoming data between now and the meeting in September don't push me off that view, then my position is we should at least have a serious discussion of policy action at the September meeting. I'm not calling at this stage for a rate hike. I'm not even sure I will support it. But I'm calling for a discussion if what we see now persists until mid-September."