Harker To Speak Shortly, Status Check On 3 or 4 2022 Hikes

Philly Fed's Harker appears on BBG TV shortly (0830ET/1330GMT), the second current FOMC voter to speak since last week's meeting (incl KC's George yesterday - yet to hear from Bullard and Mester). Of course Harker is voting temporarily in place of a full-time Boston Fed president.

• A reminder of what he said pre-January meeting. His views were considered pretty much down the middle of the FOMC at that time, so we'll see if and how much more hawkish he's become:
• On rate hikes: “My forecast is that we would have a 25bp increase in March, barring any changes in the data…”- Jan 13 “I have three 25 basis-point increases penciled in for this year… “I could be convinced of a fourth if inflation is not getting under control. But again, we have to look at the data.” – Jan 13
• On balance sheet runoff: “I don’t want to do [removal of accommodation] all at once. I think that’s just the wrong way to go.” – Jan 13 “Once we’re sufficiently away from zero, let’s call it 100bps, then we can start to actually normalize the balance sheet.” -Jan 14